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Why GigaCloud Technology Inc. (GCT) Dipped More Than Broader Market Today
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GigaCloud Technology Inc. (GCT - Free Report) closed at $31.02 in the latest trading session, marking a -1.8% move from the prior day. This change lagged the S&P 500's daily loss of 0.95%. Meanwhile, the Dow lost 1.09%, and the Nasdaq, a tech-heavy index, lost 0.84%.
Coming into today, shares of the company had lost 14.25% in the past month. In that same time, the Business Services sector lost 0.45%, while the S&P 500 gained 1.78%.
The investment community will be paying close attention to the earnings performance of GigaCloud Technology Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be $0.51, reflecting a 30.77% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $235 million, reflecting an 83.88% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.58 per share and a revenue of $1.11 billion, signifying shifts of +12.17% and +57.07%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for GigaCloud Technology Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 15.69% higher. GigaCloud Technology Inc. currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that GigaCloud Technology Inc. has a Forward P/E ratio of 12.24 right now. This signifies a discount in comparison to the average Forward P/E of 24.6 for its industry.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Why GigaCloud Technology Inc. (GCT) Dipped More Than Broader Market Today
GigaCloud Technology Inc. (GCT - Free Report) closed at $31.02 in the latest trading session, marking a -1.8% move from the prior day. This change lagged the S&P 500's daily loss of 0.95%. Meanwhile, the Dow lost 1.09%, and the Nasdaq, a tech-heavy index, lost 0.84%.
Coming into today, shares of the company had lost 14.25% in the past month. In that same time, the Business Services sector lost 0.45%, while the S&P 500 gained 1.78%.
The investment community will be paying close attention to the earnings performance of GigaCloud Technology Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be $0.51, reflecting a 30.77% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $235 million, reflecting an 83.88% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.58 per share and a revenue of $1.11 billion, signifying shifts of +12.17% and +57.07%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for GigaCloud Technology Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 15.69% higher. GigaCloud Technology Inc. currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that GigaCloud Technology Inc. has a Forward P/E ratio of 12.24 right now. This signifies a discount in comparison to the average Forward P/E of 24.6 for its industry.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.