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

Key Points

• GigaCloud Technology has been upgraded to a "Buy" rating by Wall Street Zen, reflecting positive sentiment from analysts regarding the company's performance.
• Lake Street Capital raised its target price for GigaCloud shares from $26.00 to $33.00, while the company's average price target is currently $24.00.
• GigaCloud reported strong earnings of $0.91 per share for the last quarter, exceeding expectations and marking a year-over-year revenue increase of 3.8%.

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 research note issued on Saturday.

Several other equities analysts have also recently weighed in on GCT. Lake Street Capital raised their target price on shares of GigaCloud Technology from $26.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Zacks Research raised shares of GigaCloud Technology from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of GigaCloud Technology in a report on Wednesday. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $24.00.

GigaCloud Technology Trading Down 7.9%

NASDAQ:GCT opened at $26.19 on Friday. GigaCloud Technology has a 1-year low of $11.17 and a 1-year high of $34.50. The firm has a fifty day simple moving average of $28.40 and a 200 day simple moving average of $21.14. The stock has a market capitalization of $986.58 million, a PE ratio of 7.86 and a beta of 2.36.

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

GigaCloud Technology announced that its board has authorized a share buyback program on Monday, August 18th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company's board believes its shares are undervalued.

Insider Transactions at GigaCloud Technology

In other news, COO Xinyan Hao sold 13,742 shares of GigaCloud Technology stock in a transaction on Monday, September 29th. The stock was sold at an average price of $30.02, for a total transaction of $412,534.84. Following the completion of the sale, the chief operating officer owned 793,744 shares of the company's stock, valued at approximately $23,828,194.88. This trade represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lei Wu sold 100,000 shares of GigaCloud Technology stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $28.52, for a total value of $2,852,000.00. Following the sale, the chief executive officer directly owned 60,000 shares of the company's stock, valued at $1,711,200. This represents a 62.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,742 shares of company stock valued at $3,894,255. 24.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GigaCloud Technology

A number of hedge funds and other institutional investors have recently modified their holdings of GCT. Ameritas Advisory Services LLC acquired a new stake in shares of GigaCloud Technology during the second quarter worth $35,000. CWM LLC raised its stake in GigaCloud Technology by 319.8% in the first quarter. CWM LLC now owns 2,821 shares of the company's stock valued at $40,000 after purchasing an additional 2,149 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in GigaCloud Technology by 25.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,372 shares of the company's stock valued at $47,000 after purchasing an additional 483 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in GigaCloud Technology by 17.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,705 shares of the company's stock valued at $54,000 after purchasing an additional 405 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in GigaCloud Technology by 724.7% in the first quarter. Russell Investments Group Ltd. now owns 4,148 shares of the company's stock valued at $59,000 after purchasing an additional 3,645 shares in the last quarter. Institutional investors and hedge funds own 34.94% of the company's stock.

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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