GigaCloud Technology (GCT) Scheduled to Post Earnings on Thursday

GigaCloud Technology (NASDAQ:GCT) is set to issue its quarterly earnings data after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of $0.67 per share for the quarter. Individual that are interested in registering for 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, topping 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 company had revenue of $310.90 million during the quarter, compared to the consensus estimate of $275.47 million. During the same quarter in the prior year, the firm posted $0.45 EPS. The firm’s quarterly revenue was up 102.8% on a year-over-year basis. 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 Trading Up 1.1 %

Shares of GigaCloud Technology stock opened at $22.94 on Wednesday. The company has a 50 day moving average of $22.08 and a 200-day moving average of $27.41. GigaCloud Technology has a 1-year low of $8.28 and a 1-year high of $45.18. The company has a market cap of $948.80 million, a PE ratio of 8.28 and a beta of 1.78.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Aegis raised shares of GigaCloud Technology to a “strong-buy” rating in a report on Wednesday, August 14th. Lake Street Capital initiated coverage on shares of GigaCloud Technology in a research report on Monday, July 29th. They set a “buy” rating and a $50.00 price objective for the company.

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.