GigaCloud Technology (GCT) to Release Earnings on Thursday

GigaCloud Technology (NASDAQ:GCT - Get Free Report) will issue its quarterly earnings data after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of $0.67 per share for the quarter. GigaCloud Technology has set its Q3 2024 guidance at EPS.Parties that wish to register for the company's conference call can do so using this link.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.32. GigaCloud Technology had a return on equity of 39.75% and a net margin of 11.57%. The business had revenue of $310.90 million during the quarter, compared to the consensus estimate of $275.47 million. During the same period in the prior year, the company earned $0.45 earnings per share. The company's revenue was up 102.8% compared to the same quarter last year. On average, analysts expect GigaCloud Technology to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

GigaCloud Technology Trading Down 0.3 %

Shares of GigaCloud Technology stock traded down $0.06 during trading hours on Friday, hitting $22.71. 662,099 shares of the company were exchanged, compared to its average volume of 2,246,574. GigaCloud Technology has a 1 year low of $8.28 and a 1 year high of $45.18. The business has a 50-day moving average of $22.02 and a 200-day moving average of $27.76. The stock has a market capitalization of $939.29 million, a price-to-earnings ratio of 8.20 and a beta of 1.77.

Analysts Set New Price Targets

Several research firms have issued reports on GCT. Lake Street Capital began coverage on GigaCloud Technology in a research report on Monday, July 29th. They issued a "buy" rating and a $50.00 price objective for the company. Aegis upgraded GigaCloud Technology to a "strong-buy" rating in a research report on Wednesday, August 14th.

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.