GigaCloud Technology (GCT) Scheduled to Post Earnings on Thursday

GigaCloud Technology (NASDAQ:GCT) will be releasing its earnings data 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.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

GigaCloud Technology (NASDAQ:GCT) last posted its earnings results on Friday, March 15th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate 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 Trading Down 5.7 %

GigaCloud Technology stock traded down $2.34 during trading on Tuesday, hitting $38.77. The company had a trading volume of 1,520,517 shares, compared to its average volume of 3,049,151. GigaCloud Technology has a 1-year low of $5.00 and a 1-year high of $45.18. The company’s 50 day simple moving average is $33.84 and its 200-day simple moving average is $23.39. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 16.87 and a beta of 1.99.

Insider Transactions at GigaCloud Technology

In related news, CTO Xin Wan sold 150,000 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $27.26, for a total value of $4,089,000.00. Following the completion of the sale, the chief technology officer now directly owns 947,540 shares of the company’s stock, valued at $25,829,940.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other GigaCloud Technology news, CTO Xin Wan sold 150,000 shares of GigaCloud Technology stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $27.26, for a total value of $4,089,000.00. Following the transaction, the chief technology officer now directly owns 947,540 shares in the company, valued at $25,829,940.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David Kwok Hei Lau sold 2,619 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $30.50, for a total transaction of $79,879.50. Following the transaction, the chief financial officer now owns 27,803 shares in the company, valued at $847,991.50. The disclosure for this sale can be found here. In the last three months, insiders sold 784,464 shares of company stock valued at $24,502,055. Insiders own 43.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Roth Mkm raised their price target on shares of GigaCloud Technology from $28.00 to $35.00 and gave the company a “buy” rating in a research report 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.