Key PointsGigaCloud operates a cross-border marketplace for large parcel merchandise (like furniture) that connects resellers and factories in Asia under its Supplier-Filled Retailing Model.GigaCloud has an 18.68% short interest as a short seller report hurt shares but rebounded as it publicly provided a retort to its main points.Giga Cloud reported a top and bottom line beat for Q1 2024 and launched its Branding-as-a-Service (BaaS) solution in the quarter.5 stocks we like better than GigaCloud TechnologyGi ...

GigaCloud Technology Inc. (GCT) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Over the past month, shares of this company have returned -7.9%, compared to the Zacks S&P 500 composite's +4.8% change. During this period, the Zacks Technology Services industry, which GigaCloud Technology Inc. falls in, has gained 7.4%. The key question now is: What could be the stoc ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Let's take a look at what these Wall Street heavyweights have to say about GigaCloud Technology Inc. (GCT) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.GigaCloud Technology Inc. currently has an aver ...

EL MONTE, Calif., May 23, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B technology solutions for large parcel merchandise, today issued the following statement in response to the claims made in a report by Grizzly Research LLC, a short-seller, issued on May 22, 2024. The short-seller report lacks merit and contains numerous defamatory, selective, inaccurate, incomplete and misleading statements, speculation, and innuendo. Th ...

EL MONTE, Calif., May 23, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B technology solutions for large parcel merchandise, today issued the following statement in response to the claims made in a report by Grizzly Research LLC, a short-seller, issued on May 22, 2024. The short-seller report lacks merit and contains numerous defamatory, selective, inaccurate, incomplete and misleading statements, speculation, and innuendo. T ...

GigaCloud Technology (NASDAQ:GCT) stock is taking a beating on Wednesday after the company’s shares were hit with a short report from Grizzly Research.Grizzly Research alledges in its short report that GigaCloud Technology is a Chinese hustle that is manipulating data to attract investors. It claims that the company’s e-commerce website is only gets about 50 visitors per month. Even during its peak in June 2022, the firm notes visitors were only at about 1,000 users per month.Grizzly Research claims that th ...

ATLANTA, May 22, 2024 (GLOBE NEWSWIRE) -- Holzer & Holzer, LLC is investigating whether GigaCloud Technology Inc. ("GigaCloud" or the "Company") (NASDAQ:GCT) complied with federal securities laws. On May 22, 2024, Grizzly Research published a report alleging that GigaCloud "operates a complex web of undisclosed related party shell companies it uses to transact with itself and exaggerate marketplace growth." Following this news, the price of the Company's stock dropped. If you purchased GigaCloud stock and s ...

Net profit, also referred to as the bottom line, is one of the key tools determining the financial health of an enterprise. The metric demonstrates a company’s ability to convert per-dollar sales into profits.A low profit margin indicates higher risks, implying that a revenue drop might dampen profits, thus pushing a company into the red. GigaCloud Technology Inc. (GCT) , Great Lakes Dredge & Dock Corporation (GLDD) , Strategic Education, Inc. (STRA) and Teekay Tankers Ltd. (TNK) , however, boast solid net ...

GigaCloud Technology Inc. (GCT) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Shares of this company have returned +11.6% over the past month versus the Zacks S&P 500 composite's +2% change. The Zacks Technology Services industry, to which GigaCloud Technology Inc. belongs, has gained 1.6% over this period. Now the key question is: Where could the stock be headed in the near t ...

Investment Rating - Maintain Buy rating with a target price of $46 based on SOTP valuation [2][12] Core Views - GigaCloud (GCT US) delivered a strong Q1 2024 performance with revenue growth of 96% YoY, beating expectations by 3% [2] - Net profit in Q1 2024 was $27 million, up 71% YoY but 10% below expectations due to new fulfillment center costs and FX volatility [2] - Management guided Q2 2024E revenue of $265-280 million, representing 73-83% YoY growth, with the midpoint 9% above expectations [2] - Positive margin trends expected in 2H24E driven by narrowing NH losses, annual freight contracts, and improved warehouse utilization [2] - BaaS initiative launched in April 2024 is expected to unlock TAM and drive long-term incremental growth [2] Financial Performance - Q1 2024 revenue was $251 million, up 96% YoY, with gross profit of $67 million and net profit of $27 million [2][7] - FY24E revenue is forecasted at $1.112 billion, up 58% YoY, with net profit of $116 million [2][10] - FY25E revenue is projected at $1.353 billion, up 22% YoY, with net profit of $150 million [2][10] - FY26E revenue is estimated at $1.632 billion, up 21% YoY, with net profit of $188 million [2][10] Operational Highlights - Global fulfillment network expanded to 42 locations covering over 10.5 million square feet, up 169% from March 2023 [2] - Outdoor furniture demand is expected to drive Q2 2024E revenue growth [2] - BaaS program charges a competitive 4% fee compared to the industry standard of 10% [2] Valuation - SOTP valuation based on 18x P/E for 3P business and 16x P/E for 1P business, resulting in a target price of $46 [12] - DCF valuation assumes a WACC of 15.7% and long-term growth rate of 3%, also supporting the $46 target price [13][14] Historical Performance - FY23 revenue grew 44% YoY to $704 million, with net profit up 293% YoY to $94 million [10] - FY22 revenue increased 18% YoY to $490 million, with net profit of $24 million [10] - FY21 revenue was $414 million, with net profit of $29 million [10]