Yahoo Finance Is GigaCloud Technology Inc. (GCT) Stock Outpacing Its Business Services Peers This Year?
The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. 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 a member of our Business Services group, which includes 315 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. 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 42.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that GCT has returned about 60.9% since the start of the calendar year. In comparison, Business Services companies have returned an average of 6.6%. 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 MediaAlpha, Inc. (MAX). The stock is up 17.3% year-to-date.
The consensus estimate for MediaAlpha, Inc.'s current year EPS has increased 78.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, GigaCloud Technology Inc. belongs to the Technology Services industry, which includes 172 individual stocks and currently sits at #57 in the Zacks Industry Rank. On average, stocks in this group have gained 18.7% this year, meaning that GCT is performing better in terms of year-to-date returns. MediaAlpha, Inc. is also part of the same industry.
Investors with an interest in Business Services stocks should continue to track GigaCloud Technology Inc. and MediaAlpha, Inc. These stocks will be looking to continue their solid performance.
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GigaCloud Technology Inc. (GCT) : Free Stock Analysis Report
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