Has GigaCloud Technology Inc. (GCT) Outpaced Other Business Services Stocks This Year?
Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Is GigaCloud Technology Inc. (GCT) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.
GigaCloud Technology Inc. is one of 318 companies in the Business Services group. The Business Services group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. GigaCloud Technology Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for GCT's full-year earnings has moved 11% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that GCT has returned about 134.3% since the start of the calendar year. Meanwhile, the Business Services sector has returned an average of 17.4% on a year-to-date basis. This shows that GigaCloud Technology Inc. is outperforming its peers so far this year.
One other Business Services stock that has outperformed the sector so far this year is Huron Consulting (HURN). The stock is up 44.7% year-to-date.
The consensus estimate for Huron Consulting's current year EPS has increased 5.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, GigaCloud Technology Inc. belongs to the Technology Services industry, a group that includes 176 individual stocks and currently sits at #92 in the Zacks Industry Rank. On average, stocks in this group have gained 41.8% this year, meaning that GCT is performing better in terms of year-to-date returns.
On the other hand, Huron Consulting belongs to the Consulting Services industry. This 14-stock industry is currently ranked #64. The industry has moved +29.2% year to date.
Going forward, investors interested in Business Services stocks should continue to pay close attention to GigaCloud Technology Inc. and Huron Consulting as they could maintain their solid performance.
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GigaCloud Technology Inc. (GCT) : Free Stock Analysis Report
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