GigaCloud Technology (NASDAQ:GCT) Upgraded to Buy at Wall Street Zen

Key Points

• GigaCloud Technology was upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating increased analyst confidence in the stock.
• Lake Street Capital has raised its price target for GigaCloud shares from $26.00 to $33.00, signaling a bullish outlook on the company's performance.
• The company reported a quarterly earnings per share of $0.91, significantly exceeding analyst expectations of $0.46, and had a revenue of $322.61 million, above forecasts.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Several other equities analysts have also commented on the stock. Lake Street Capital increased their price objective on shares of GigaCloud Technology from $26.00 to $33.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Zacks Research raised shares of GigaCloud Technology from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 19th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $24.00.

GigaCloud Technology Price Performance

Shares of GCT stock traded up $0.35 during mid-day trading on Friday, hitting $25.79. 365,537 shares of the stock traded hands, compared to its average volume of 930,418. The stock has a market cap of $971.43 million, a P/E ratio of 7.74 and a beta of 2.37. The stock's fifty day moving average is $24.29 and its two-hundred day moving average is $18.81. GigaCloud Technology has a 52-week low of $11.17 and a 52-week high of $34.50.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.46 by $0.45. The business had revenue of $322.61 million during the quarter, compared to analyst estimates of $290.08 million. GigaCloud Technology had a net margin of 11.17% and a return on equity of 32.33%. The company's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 earnings per share. GigaCloud Technology has set its Q3 2025 guidance at EPS. As a group, equities analysts forecast that GigaCloud Technology will post 3.1 EPS for the current fiscal year.

GigaCloud Technology declared that its Board of Directors has authorized a stock buyback program on Monday, August 18th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Insider Activity at GigaCloud Technology

In other news, insider Marshall Bernes sold 16,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $31.29, for a total transaction of $500,640.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 24.71% of the stock is owned by insiders.

Institutional Investors Weigh In On GigaCloud Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of GigaCloud Technology by 9.1% during the 2nd 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. Nuveen LLC acquired a new stake in shares of GigaCloud Technology during the 1st quarter worth approximately $6,502,000. Nuveen Asset Management LLC grew its stake in shares of GigaCloud Technology by 37.1% during the 4th quarter. Nuveen Asset Management LLC now owns 409,787 shares of the company's stock worth $7,589,000 after purchasing an additional 110,804 shares during the period. Franklin Resources Inc. grew its stake in shares of GigaCloud Technology by 1.0% during the 2nd quarter. Franklin Resources Inc. now owns 407,960 shares of the company's stock worth $8,069,000 after purchasing an additional 4,163 shares during the period. Finally, Bridgeway Capital Management LLC grew its stake in shares of GigaCloud Technology by 0.8% during the 2nd quarter. Bridgeway Capital Management LLC now owns 380,656 shares of the company's stock worth $7,529,000 after purchasing an additional 3,023 shares during the period. Institutional investors and hedge funds own 34.94% of the company's stock.

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.