GigaCloud Technology (NASDAQ:GCT) Announces Earnings Results

GigaCloud Technology (NASDAQ:GCT - Get Free Report) announced its quarterly earnings results on Monday. The company reported $0.76 EPS for the quarter, missing analysts' consensus estimates of $0.90 by ($0.14), Zacks reports. The business had revenue of $295.78 million for the quarter, compared to the consensus estimate of $290.00 million. GigaCloud Technology had a return on equity of 40.32% and a net margin of 11.75%. During the same quarter in the prior year, the business earned $0.87 EPS. GigaCloud Technology updated its Q1 2025 guidance to EPS.

GigaCloud Technology Price Performance

Shares of NASDAQ:GCT traded down $0.84 during trading on Thursday, reaching $15.63. The stock had a trading volume of 1,191,457 shares, compared to its average volume of 1,073,594. GigaCloud Technology has a 52 week low of $13.60 and a 52 week high of $45.18. The business's 50-day moving average price is $19.39 and its 200 day moving average price is $21.19. The stock has a market capitalization of $640.39 million, a PE ratio of 4.95 and a beta of 1.94.

Insider Activity

In related news, CTO Xin Wan sold 80,000 shares of the firm's stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $22.14, for a total value of $1,771,200.00. Following the completion of the sale, the chief technology officer now owns 867,540 shares of the company's stock, valued at $19,207,335.60. This trade represents a 8.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Marshall Bernes purchased 5,000 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average cost of $17.50 per share, with a total value of $87,500.00. Following the acquisition, the insider now owns 45,000 shares of the company's stock, valued at $787,500. This represents a 12.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 2,811,979 shares of company stock worth $61,233,745. Insiders own 43.00% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages have commented on GCT. Roth Mkm cut shares of GigaCloud Technology from a "buy" rating to a "neutral" rating and cut their price target for the stock from $32.00 to $15.00 in a research note on Tuesday. Lake Street Capital cut their target price on shares of GigaCloud Technology from $50.00 to $26.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, Roth Capital cut shares of GigaCloud Technology from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $36.67.

About GigaCloud Technology

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.