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The most recent trading session ended with GigaCloud Technology Inc. (GCT) standing at $15.91, reflecting a +1.4% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 0.16%. Elsewhere, the Dow saw an upswing of 0.01%, while the tech-heavy Nasdaq appreciated by 0.46%.
Heading into today, shares of the company had lost 12.88% over the past month, lagging the Business Services sector's loss of 3.54% and the S&P 500's loss of 3.59% in that time.
The upcoming earnings release of GigaCloud Technology Inc. will be of great interest to investors. On that day, GigaCloud Technology Inc. is projected to report earnings of $0.46 per share, which would represent a year-over-year decline of 45.24%. Simultaneously, our latest consensus estimate expects the revenue to be $257.4 million, showing a 2.52% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.90 per share and revenue of $1.2 billion, indicating changes of -4.92% and +3.33%, respectively, compared to the previous year.
Any recent changes to analyst estimates for GigaCloud Technology Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 14.2% lower. GigaCloud Technology Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, GigaCloud Technology Inc. is presently trading at a Forward P/E ratio of 5.41. This indicates a discount in contrast to its industry's Forward P/E of 21.61.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 58, positioning it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.