GigaCloud Technology (GCT) Set to Announce Quarterly Earnings on Thursday

GigaCloud Technology (NASDAQ:GCT) is scheduled to announce its earnings results after the market closes on Thursday, November 7th. Analysts expect the company to announce 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 posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.32. GigaCloud Technology had a net margin of 11.57% and a return on equity of 39.75%. The firm had revenue of $310.90 million for the quarter, compared to analyst estimates of $275.47 million. During the same period in the prior year, the firm posted $0.45 earnings per share. The company’s quarterly revenue 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 Price Performance

NASDAQ GCT traded up $0.46 on Tuesday, hitting $23.15. 432,849 shares of the stock were exchanged, compared to its average volume of 2,229,442. The business’s fifty day moving average is $22.04 and its 200 day moving average is $27.49. GigaCloud Technology has a 52 week low of $8.28 and a 52 week high of $45.18. The company has a market capitalization of $957.48 million, a PE ratio of 8.19 and a beta of 1.78.

Analyst Upgrades and Downgrades

GCT has been the topic of several research reports. Aegis upgraded shares of GigaCloud Technology to a “strong-buy” rating in a report on Wednesday, August 14th. 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 target on the stock.

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.