GigaCloud Technology (GCT) Scheduled to Post Quarterly Earnings on Thursday

GigaCloud Technology (NASDAQ:GCT) is scheduled to be announcing 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. GigaCloud Technology has set its Q3 2024 guidance at EPS.

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 the consensus estimate of $0.71 by $0.32. The business had revenue of $310.90 million during the quarter, compared to the consensus estimate of $275.47 million. GigaCloud Technology had a return on equity of 39.75% and a net margin of 11.57%. The company’s quarterly revenue was up 102.8% on a year-over-year basis. During the same quarter last year, the company earned $0.45 earnings per share. On average, analysts expect GigaCloud Technology to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

GigaCloud Technology Stock Up 1.7 %

Shares of GigaCloud Technology stock opened at $23.16 on Friday. The company has a 50 day moving average price of $22.02 and a 200 day moving average price of $27.76. The firm has a market capitalization of $957.90 million, a P/E ratio of 8.22 and a beta of 1.77. GigaCloud Technology has a 52 week low of $8.28 and a 52 week high of $45.18.

Wall Street Analysts Forecast Growth

Several analysts have commented on GCT shares. Lake Street Capital began coverage on shares of GigaCloud Technology in a research note on Monday, July 29th. They set a “buy” rating and a $50.00 price objective for the company. 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.