GigaCloud Technology (GCT) Scheduled to Post Quarterly Earnings on Thursday

GigaCloud Technology (NASDAQ:GCT - Get Free Report) is scheduled to announce its earnings results before the market opens on Thursday, May 9th. Analysts expect the company to announce earnings of $0.51 per share for the quarter. GigaCloud Technology has set its Q1 2024 guidance at EPS.Individual interested in registering for the company's earnings conference call can do so using this link.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last announced its quarterly earnings data on Friday, March 15th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.29. The company had revenue of $244.74 million for the quarter, compared to the consensus estimate of $220.30 million. GigaCloud Technology had a return on equity of 36.40% and a net margin of 13.37%. On average, analysts expect GigaCloud Technology to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

GigaCloud Technology Stock Performance

Shares of NASDAQ:GCT traded up $2.57 during midday trading on Friday, reaching $37.27. The company's stock had a trading volume of 2,964,211 shares, compared to its average volume of 3,061,496. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 15.97 and a beta of 1.99. The firm has a 50 day moving average price of $33.58 and a two-hundred day moving average price of $22.77. GigaCloud Technology has a fifty-two week low of $4.97 and a fifty-two week high of $45.18.

Analyst Ratings Changes

Separately, Roth Mkm boosted their price objective on GigaCloud Technology from $28.00 to $35.00 and gave the company a "buy" rating in a research note on Tuesday, April 2nd.

Insider Buying and Selling

In related news, CEO Lei Wu sold 44,000 shares of the company's stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $31.87, for a total transaction of $1,402,280.00. Following the transaction, the chief executive officer now directly owns 709,816 shares of the company's stock, valued at approximately $22,621,835.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Lei Wu sold 44,000 shares of the company's stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $31.87, for a total transaction of $1,402,280.00. Following the transaction, the chief executive officer now directly owns 709,816 shares of the company's stock, valued at approximately $22,621,835.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Frank Hurst Lin sold 133,097 shares of the company's stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $30.38, for a total value of $4,043,486.86. Following the transaction, the director now directly owns 5,764,302 shares in the company, valued at $175,119,494.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 740,464 shares of company stock valued at $23,012,215. 45.30% of the stock is owned by company insiders.

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.