Aegis Research Analysts Reduce Earnings Estimates for GCT

GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) - Analysts at Aegis dropped their FY2025 earnings per share estimates for GigaCloud Technology in a research note issued to investors on Tuesday, June 24th. Aegis analyst R. Dionisio now anticipates that the company will post earnings of $3.00 per share for the year, down from their previous estimate of $3.12. The consensus estimate for GigaCloud Technology's current full-year earnings is $3.10 per share.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.22. The business had revenue of $271.91 million for the quarter, compared to analyst estimates of $259.80 million. GigaCloud Technology had a net margin of 10.64% and a return on equity of 31.90%. The company's revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 EPS.

A number of other research firms have also commented on GCT. Lake Street Capital lowered their price target on GigaCloud Technology from $50.00 to $26.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Roth Mkm downgraded GigaCloud Technology from a "buy" rating to a "neutral" rating and decreased their target price for the company from $32.00 to $15.00 in a report on Tuesday, March 4th. Finally, Roth Capital lowered GigaCloud Technology from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 4th.

GigaCloud Technology Price Performance

NASDAQ GCT opened at $20.22 on Friday. The stock has a market capitalization of $769.78 million, a PE ratio of 6.59 and a beta of 2.36. GigaCloud Technology has a 1 year low of $11.17 and a 1 year high of $34.28. The business's 50-day moving average is $16.68 and its 200 day moving average is $17.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC lifted its position in GigaCloud Technology by 25.6% during the first quarter. Voya Investment Management LLC now owns 16,692 shares of the company's stock valued at $237,000 after buying an additional 3,398 shares during the period. Rhumbline Advisers increased its stake in shares of GigaCloud Technology by 7.7% in the 1st quarter. Rhumbline Advisers now owns 32,184 shares of the company's stock worth $457,000 after acquiring an additional 2,302 shares in the last quarter. Empowered Funds LLC lifted its position in GigaCloud Technology by 2.1% during the 1st quarter. Empowered Funds LLC now owns 198,933 shares of the company's stock valued at $2,825,000 after acquiring an additional 4,034 shares during the period. Goldman Sachs Group Inc. lifted its position in GigaCloud Technology by 24.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 142,055 shares of the company's stock valued at $2,017,000 after acquiring an additional 28,309 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in GigaCloud Technology by 2,444.8% during the first quarter. Jones Financial Companies Lllp now owns 4,199 shares of the company's stock worth $60,000 after acquiring an additional 4,034 shares in the last quarter. Hedge funds and other institutional investors own 34.94% of the company's stock.

GigaCloud Technology declared that its Board of Directors has authorized a share buyback plan on Wednesday, April 2nd that allows the company to buyback $16.00 million in shares. This buyback authorization allows the company to buy up to 2.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

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.

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