GigaCloud Technology (GCT) Scheduled to Post Earnings on Thursday

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

GigaCloud Technology (NASDAQ:GCT) last issued its earnings results on Friday, March 15th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.29. GigaCloud Technology had a net margin of 13.37% and a return on equity of 36.40%. The firm had revenue of $244.74 million during the quarter, compared to the consensus estimate of $220.30 million. 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 Price Performance

GigaCloud Technology stock opened at $40.09 on Wednesday. The stock’s fifty day moving average is $33.94 and its two-hundred day moving average is $23.61. The stock has a market cap of $1.64 billion, a PE ratio of 17.43 and a beta of 1.99. GigaCloud Technology has a 1-year low of $5.00 and a 1-year high of $45.18.

Insider Activity at GigaCloud Technology

In related news, CEO Lei Wu sold 44,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $40.21, for a total value of $1,769,240.00. Following the completion of the sale, the chief executive officer now directly owns 533,816 shares of the company’s stock, valued at $21,464,741.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Lei Wu sold 44,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $40.21, for a total value of $1,769,240.00. Following the completion of the sale, the chief executive officer now directly owns 533,816 shares of the company’s stock, valued at $21,464,741.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Xin Wan sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $27.26, for a total transaction of $4,089,000.00. Following the transaction, the chief technology officer now owns 947,540 shares in the company, valued at $25,829,940.40. The disclosure for this sale can be found here. Insiders have sold 828,464 shares of company stock valued at $26,271,295 in the last ninety days. Insiders own 45.30% of the company’s stock.

Wall Street Analyst Weigh In

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

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.