Is GigaCloud Technology Inc. (GCT) Outperforming Other Business Services Stocks This Year?
The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. GigaCloud Technology Inc. (GCT) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.
GigaCloud Technology Inc. is a member of the Business Services sector. This group includes 313 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. GigaCloud Technology Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for GCT's full-year earnings has moved 33.9% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, GCT has moved about 27.3% on a year-to-date basis. Meanwhile, the Business Services sector has returned an average of 23.2% on a year-to-date basis. As we can see, GigaCloud Technology Inc. is performing better than its sector in the calendar year.
Another Business Services stock, which has outperformed the sector so far this year, is Getaround, Inc. (GETR). The stock has returned 32.7% year-to-date.
Over the past three months, Getaround, Inc.'s consensus EPS estimate for the current year has increased 16.1%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, GigaCloud Technology Inc. belongs to the Technology Services industry, which includes 174 individual stocks and currently sits at #66 in the Zacks Industry Rank. Stocks in this group have gained about 47.9% so far this year, so GCT is slightly underperforming its industry this group in terms of year-to-date returns. Getaround, Inc. is also part of the same industry.
Investors with an interest in Business Services stocks should continue to track GigaCloud Technology Inc. and Getaround, Inc. These stocks will be looking to continue their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
GigaCloud Technology Inc. (GCT) : Free Stock Analysis Report
Getaround, Inc. (GETR) : Free Stock Analysis Report
