GigaCloud Technology (GCT) to Release Quarterly Earnings on Thursday

GigaCloud Technology (NASDAQ:GCT) will release its earnings data after the market closes on Thursday, November 7th. Analysts expect GigaCloud Technology to post earnings of $0.67 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

GigaCloud Technology (NASDAQ:GCT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.32. GigaCloud Technology had a net margin of 11.57% and a return on equity of 39.75%. The business had revenue of $310.90 million during the quarter, compared to analyst estimates of $275.47 million. During the same quarter last year, the business posted $0.45 earnings per share. GigaCloud Technology’s revenue for the quarter was up 102.8% compared to the same quarter last year. 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 GCT stock opened at $22.94 on Wednesday. GigaCloud Technology has a 52-week low of $8.28 and a 52-week high of $45.18. The stock has a market cap of $948.80 million, a PE ratio of 8.28 and a beta of 1.78. The firm’s 50 day moving average price is $22.08 and its two-hundred day moving average price is $27.41.

Analyst Ratings Changes

A number of equities analysts have issued reports on GCT shares. Lake Street Capital started coverage on shares of GigaCloud Technology in a research note on Monday, July 29th. They issued a “buy” rating and a $50.00 price objective on the stock. Aegis raised shares of GigaCloud Technology to a “strong-buy” rating in a research note on Wednesday, August 14th.

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.