GigaCloud Technology Inc. (NASDAQ:GCT) Receives Consensus Rating of “Moderate Buy” from Analysts

GigaCloud Technology Inc. (NASDAQ:GCT) has been assigned an average rating of “Moderate Buy” from the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $24.00.

Several equities research analysts have weighed in on the company. Wall Street Zen raised GigaCloud Technology from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Zacks Research raised shares of GigaCloud Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 10th. Finally, Weiss Ratings raised shares of GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th.

GigaCloud Technology Stock Up 0.2%

Shares of NASDAQ GCT opened at $41.80 on Friday. The firm’s 50-day moving average price is $36.79 and its two-hundred day moving average price is $29.88. GigaCloud Technology has a 52-week low of $11.17 and a 52-week high of $43.85. The stock has a market capitalization of $1.55 billion, a P/E ratio of 12.51 and a beta of 2.28.

GigaCloud Technology (NASDAQ:GCT) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.34. The business had revenue of $332.64 million for the quarter, compared to analysts’ expectations of $300.96 million. GigaCloud Technology had a return on equity of 30.43% and a net margin of 10.62%.The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 EPS. As a group, equities research analysts expect that GigaCloud Technology will post 3.1 earnings per share for the current year.

Insider Activity

In other GigaCloud Technology news, COO Xinyan Hao sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $35.18, for a total value of $3,518,000.00. Following the sale, the chief operating officer owned 407,486 shares in the company, valued at approximately $14,335,357.48. This trade represents a 19.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lei Wu sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $42.36, for a total value of $847,200.00. Following the transaction, the chief executive officer owned 840,000 shares of the company’s stock, valued at approximately $35,582,400. This represents a 2.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 366,258 shares of company stock valued at $12,484,457. 24.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Jones Financial Companies Lllp grew its position in GigaCloud Technology by 184.6% during the third quarter. Jones Financial Companies Lllp now owns 908 shares of the company’s stock valued at $27,000 after purchasing an additional 589 shares in the last quarter. Quarry LP acquired a new stake in shares of GigaCloud Technology during the 3rd quarter valued at $29,000. Larson Financial Group LLC acquired a new stake in shares of GigaCloud Technology during the 3rd quarter valued at $30,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of GigaCloud Technology during the 3rd quarter valued at $30,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of GigaCloud Technology in the second quarter worth $35,000. 34.94% of the stock is owned by institutional investors and hedge funds.

GigaCloud Technology Company Profile

GigaCloud Technology Inc (NASDAQ:GCT) is a China-based provider of software-as-a-service (SaaS) and cloud computing solutions tailored for cross-border e-commerce. The company’s core offering, its Supply Chain Embedded E-commerce as a Service (SCEaaS) platform, integrates procurement, order management, warehousing, logistics and payment services into a unified cloud-based system. This end-to-end digital supply chain solution is designed to help small and medium-sized Chinese exporters efficiently connect with global buyers without the need to build and maintain their own infrastructure.

Through its modular, subscription-based SaaS model, GigaCloud enables merchants to scale operations on demand and minimize upfront capital expenditures.