GigaCloud Technology (NASDAQ:GCT) Shares Gap Up Following Earnings Beat

Shares of GigaCloud Technology Inc. (NASDAQ:GCT) gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $25.46, but opened at $27.79. GigaCloud Technology shares last traded at $31.41, with a volume of 403,385 shares trading hands.

The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.34. The firm had revenue of $332.64 million during the quarter, compared to analyst estimates of $300.96 million. GigaCloud Technology had a return on equity of 32.33% and a net margin of 11.17%.The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.15 EPS. GigaCloud Technology has set its Q4 2025 guidance at EPS.

GigaCloud Technology declared that its board has authorized a stock buyback program on Monday, August 18th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

GCT has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of GigaCloud Technology in a research report on Wednesday, October 8th. Zacks Research raised GigaCloud Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Lake Street Capital upped their price target on shares of GigaCloud Technology from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded shares of GigaCloud Technology from a “hold” rating to a “buy” rating in a research report on Sunday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Insider Activity at GigaCloud Technology

In other GigaCloud Technology news, insider Marshall Bernes sold 16,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $31.29, for a total transaction of $500,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Xinyan Hao sold 16,939 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $30.01, for a total value of $508,339.39. Following the sale, the chief operating officer directly owned 776,805 shares in the company, valued at approximately $23,311,918.05. The trade was a 2.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 150,681 shares of company stock valued at $4,402,594 over the last ninety days. 24.71% of the stock is owned by company insiders.

Hedge Funds Weigh In On GigaCloud Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its position in shares of GigaCloud Technology by 52.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 28,380 shares of the company’s stock valued at $418,000 after buying an additional 9,787 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in GigaCloud Technology during the first quarter worth $4,806,000. Cubist Systematic Strategies LLC acquired a new stake in shares of GigaCloud Technology during the first quarter valued at about $981,000. Victory Capital Management Inc. lifted its position in shares of GigaCloud Technology by 95.8% during the first quarter. Victory Capital Management Inc. now owns 137,855 shares of the company’s stock worth $1,958,000 after purchasing an additional 67,455 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in GigaCloud Technology by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 74,234 shares of the company’s stock valued at $1,054,000 after purchasing an additional 1,028 shares in the last quarter. Institutional investors and hedge funds own 34.94% of the company’s stock.

GigaCloud Technology Trading Up 22.9%

The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 9.39 and a beta of 2.35. The stock’s fifty day moving average price is $28.10 and its two-hundred day moving average price is $23.08.

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.