Zacks Research Upgrades GigaCloud Technology (NASDAQ:GCT) to Hold

Key Points

• Zacks Research upgraded GigaCloud Technology (NASDAQ:GCT) from a "strong sell" to a "hold" rating, reflecting a shift in analyst sentiment.
• Lake Street Capital increased its price target for GigaCloud shares from $26.00 to $33.00 with a "buy" rating, indicating optimism about the company's performance.
• GigaCloud reported earnings of $0.91 per share, significantly exceeding the consensus estimate of $0.46, and had revenue of $322.61 million for the quarter.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Tuesday, August 19th,Zacks.com reports.

Separately, Lake Street Capital upped their target price on GigaCloud Technology from $26.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $24.00.

GigaCloud Technology Stock Down 6.5%

GCT traded down $1.84 during trading on Tuesday, hitting $26.26. The company's stock had a trading volume of 608,556 shares, compared to its average volume of 933,945. GigaCloud Technology has a twelve month low of $11.17 and a twelve month high of $34.50. The stock's fifty day moving average price is $23.31 and its 200-day moving average price is $18.55. The firm has a market capitalization of $989.21 million, a P/E ratio of 7.96 and a beta of 2.36.

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

GigaCloud Technology declared that its board has initiated a stock repurchase program on Monday, August 18th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at GigaCloud Technology

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

Institutional Investors Weigh In On GigaCloud Technology

A number of large investors have recently made changes to their positions in the business. Thrivent Financial for Lutherans bought a new stake in shares of GigaCloud Technology in the 2nd quarter worth approximately $847,000. Tower Research Capital LLC TRC boosted its position in shares of GigaCloud Technology by 25.6% during 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. BNP Paribas Financial Markets boosted its position in shares of GigaCloud Technology by 80.0% during the second quarter. BNP Paribas Financial Markets now owns 14,945 shares of the company's stock valued at $296,000 after purchasing an additional 6,643 shares in the last quarter. Bridgeway Capital Management LLC boosted its position in shares of GigaCloud Technology by 0.8% during the second quarter. Bridgeway Capital Management LLC now owns 380,656 shares of the company's stock valued at $7,529,000 after purchasing an additional 3,023 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of GigaCloud Technology by 13.9% during the second quarter. Ameriprise Financial Inc. now owns 90,238 shares of the company's stock valued at $1,787,000 after purchasing an additional 11,034 shares in the last quarter. 34.94% of the stock is currently owned by institutional investors.

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.