GigaCloud Technology Inc. (NASDAQ:GCT) Given Average Rating of “Moderate Buy” by Brokerages

GigaCloud Technology Inc. (NASDAQ:GCT) has earned an average recommendation of “Moderate Buy” from the five analysts that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $24.00.

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

GigaCloud Technology Price Performance

GCT opened at $41.80 on Friday. The company has a market capitalization of $1.55 billion, a PE ratio of 12.51 and a beta of 2.28. GigaCloud Technology has a fifty-two week low of $11.17 and a fifty-two week high of $43.85. The business has a 50-day moving average of $36.79 and a 200-day moving average of $29.88.

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

Insider Buying and Selling

In other GigaCloud Technology news, COO Xinyan Hao sold 100,000 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $35.18, for a total transaction of $3,518,000.00. Following the transaction, the chief operating officer owned 407,486 shares in the company, valued at $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 SEC, which is available at the SEC website. Also, CEO Lei Wu sold 20,000 shares of GigaCloud Technology stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $42.36, for a total transaction of $847,200.00. Following the completion of the transaction, the chief executive officer directly owned 840,000 shares in the company, valued at approximately $35,582,400. This represents a 2.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 366,258 shares of company stock worth $12,484,457 over the last three months. 24.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GCT. Vanguard Group Inc. lifted its position in GigaCloud Technology by 18.2% during the 3rd quarter. Vanguard Group Inc. now owns 803,664 shares of the company’s stock worth $22,824,000 after acquiring an additional 123,596 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of GigaCloud Technology by 9.1% in the second quarter. Geode Capital Management LLC now owns 630,805 shares of the company’s stock worth $12,479,000 after purchasing an additional 52,415 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of GigaCloud Technology in the third quarter worth about $14,335,000. UBS Group AG lifted its position in shares of GigaCloud Technology by 133.8% during the 3rd quarter. UBS Group AG now owns 441,992 shares of the company’s stock worth $12,553,000 after purchasing an additional 252,934 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in GigaCloud Technology by 3.3% during the 3rd quarter. Franklin Resources Inc. now owns 421,507 shares of the company’s stock valued at $11,971,000 after purchasing an additional 13,547 shares during the period. Institutional investors own 34.94% of the company’s stock.

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.