Aegis Has Bullish Forecast for GCT FY2025 Earnings

GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) - Investment analysts at Aegis raised their FY2025 earnings estimates for GigaCloud Technology in a research report issued to clients and investors on Wednesday, March 5th. Aegis analyst R. Dionisio now expects that the company will earn $3.12 per share for the year, up from their prior estimate of $3.10. The consensus estimate for GigaCloud Technology's current full-year earnings is $3.10 per share.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.14). GigaCloud Technology had a return on equity of 40.32% and a net margin of 11.75%. The business had revenue of $295.78 million for the quarter, compared to analyst estimates of $290.00 million. During the same quarter last year, the company earned $0.87 EPS.

GCT has been the subject of a number of other reports. Roth Capital downgraded GigaCloud Technology from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Roth Mkm lowered shares of GigaCloud Technology from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $32.00 to $15.00 in a research report on Tuesday, March 4th. Finally, Lake Street Capital cut their price objective on shares of GigaCloud Technology from $50.00 to $26.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. 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 to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $36.67.

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GigaCloud Technology Stock Performance

Shares of GigaCloud Technology stock traded down $0.09 on Monday, reaching $14.35. 637,656 shares of the company were exchanged, compared to its average volume of 1,095,200. The firm has a market cap of $574.75 million, a price-to-earnings ratio of 4.56 and a beta of 2.05. GigaCloud Technology has a 1-year low of $13.60 and a 1-year high of $45.18. The company's 50-day moving average is $19.17 and its two-hundred day moving average is $20.99.

Institutional Investors Weigh In On GigaCloud Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in shares of GigaCloud Technology by 90.7% in the 3rd quarter. Geode Capital Management LLC now owns 577,108 shares of the company's stock worth $13,265,000 after purchasing an additional 274,506 shares in the last quarter. State Street Corp increased its holdings in shares of GigaCloud Technology by 31.7% in the third quarter. State Street Corp now owns 502,445 shares of the company's stock valued at $11,546,000 after buying an additional 121,037 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of GigaCloud Technology by 49.5% during the 3rd quarter. Franklin Resources Inc. now owns 409,829 shares of the company's stock worth $10,164,000 after acquiring an additional 135,726 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of GigaCloud Technology by 37.1% in the 4th quarter. Nuveen Asset Management LLC now owns 409,787 shares of the company's stock worth $7,589,000 after acquiring an additional 110,804 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its position in shares of GigaCloud Technology by 2.6% during the fourth quarter. Bridgeway Capital Management LLC now owns 373,599 shares of the company's stock worth $6,919,000 after purchasing an additional 9,409 shares during the period. 34.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at GigaCloud Technology

In other news, CTO Xin Wan sold 68,437 shares of the company's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $20.43, for a total value of $1,398,167.91. Following the completion of the sale, the chief technology officer now owns 1,563 shares in the company, valued at $31,932.09. This represents a 97.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Marshall Bernes bought 5,000 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average cost of $17.50 per share, for a total transaction of $87,500.00. Following the completion of the acquisition, the insider now owns 45,000 shares of the company's stock, valued at $787,500. This trade represents a 12.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 43.00% of the stock is currently owned by insiders.

GigaCloud Technology Company Profile

GigaCloud Technology Inc provides end-to-end B2B ecommerce solutions for large parcel merchandise in the United States and internationally. The company offers GigaCloud Marketplace integrates product discovery to payments to logistics tools into one easy-to-use platform. Its marketplace connects manufacturers primarily in Asia with resellers in the United States, Asia, and Europe to execute cross-border transactions across furniture, home appliance, fitness equipment, and other large parcel categories.