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Strength Seen in GigaCloud Technology Inc. (GCT): Can Its 10.0% Jump Turn into More Strength?
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GigaCloud Technology Inc. (GCT - Free Report) shares rallied 10% in the last trading session to close at $25.62. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 29.4% gain over the past four weeks.
The surge in price can be attributed to the positive expectation of the investors post the acquisition of Wondersign by GigaCloud, which enhances its B2B e-commerce solutions by integrating cloud-based digital signage and e-catalog management. This strategic move expands GigaCloud's reach to brick-and-mortar stores, thus enabling the launch of GIGA IQ, an innovative solution package that enhances transaction experiences for both GigaCloud Marketplace users and traditional retail customers.
This company is expected to post quarterly earnings of $0.58 per share in its upcoming report, which represents a year-over-year change of +87.1%. Revenues are expected to be $220.3 million, up 75.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For GigaCloud Technology Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GCT going forward to see if this recent jump can turn into more strength down the road.
GigaCloud Technology Inc. belongs to the Zacks Technology Services industry. Another stock from the same industry, Alithya Group , closed the last trading session 2.7% lower at $1.43. Over the past month, ALYA has returned 10.5%.
For Alithya, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. This represents a change of +25% from what the company reported a year ago. Alithya currently has a Zacks Rank of #3 (Hold).
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Strength Seen in GigaCloud Technology Inc. (GCT): Can Its 10.0% Jump Turn into More Strength?
GigaCloud Technology Inc. (GCT - Free Report) shares rallied 10% in the last trading session to close at $25.62. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 29.4% gain over the past four weeks.
The surge in price can be attributed to the positive expectation of the investors post the acquisition of Wondersign by GigaCloud, which enhances its B2B e-commerce solutions by integrating cloud-based digital signage and e-catalog management. This strategic move expands GigaCloud's reach to brick-and-mortar stores, thus enabling the launch of GIGA IQ, an innovative solution package that enhances transaction experiences for both GigaCloud Marketplace users and traditional retail customers.
This company is expected to post quarterly earnings of $0.58 per share in its upcoming report, which represents a year-over-year change of +87.1%. Revenues are expected to be $220.3 million, up 75.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For GigaCloud Technology Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GCT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
GigaCloud Technology Inc. belongs to the Zacks Technology Services industry. Another stock from the same industry, Alithya Group , closed the last trading session 2.7% lower at $1.43. Over the past month, ALYA has returned 10.5%.
For Alithya, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. This represents a change of +25% from what the company reported a year ago. Alithya currently has a Zacks Rank of #3 (Hold).