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Here's Why You Should Invest in GigaCloud (GCT) Stock Now
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GigaCloud Technology Inc. (GCT - Free Report) integrates its supplier-fulfilled retailing business model with research and development aimed at harnessing advanced algorithms to further refine its strong cloud infrastructure. This strategic fusion enables the company to provide a superior B2B selling and sourcing experience for all involved in the marketplace.
Addressing the rising demand for large parcel merchandise, GCT is witnessing notable growth in GigaCloud Marketplace GMV, sales volume and the number of buyers and sellers. Sales surged 96.5% year over year in the first quarter of 2024, with GigaCloud Marketplace GMV increasing 64%.
In late 2023, GCT completed the acquisitions of Noble House and Wondersign, significantly advancing its position as a full-service end-to-end B2B solution provider in the large marketplace. The buyouts have empowered the company to enhance its footprint across various geographies, diversify its product range with premium stock-keeping units, integrate cutting-edge technology, and extend its business network, all contributing to its strengthened presence and capabilities.
Let’s take a look at some other factors that make GCT an attractive pick.
Solid Rank and VGM Score: GCT sports a Zacks Rank #1 (Strong Buy) and has a VGM Score of A. Our research shows that stocks with a VGM Score of A or B, when combined with a Zacks Rank #1 or 2 (Buy), offer the best investment opportunities for investors. Thus, the company is a compelling investment proposition at the moment.
Northward Estimate Revisions: One estimate for 2024 moved north in the past 60 days versus no southward revision, reflecting analysts’ confidence in the company. The Zacks Consensus Estimate for 2024 earnings has moved up 9.1% in the past 60 days.
Positive Earnings Surprise History: GCT has an impressive earnings surprise history. The company outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an earnings surprise of 47.9%, on average.
Strong Growth Prospects: The Zacks Consensus Estimate for GCT’s 2024 earnings is pegged at $3.25, indicating 41.3% growth from the year-ago levels. Earnings in 2025 are expected to increase 23.7% from the prior-year actuals.
BAH has a long-term earnings growth expectation of 14%. It delivered a trailing four-quarter earnings surprise of 12.5%, on average.
SPX Technologies, Inc. currently flaunts a Zacks Rank of 1. It has a long-term earnings growth expectation of 18%. SPXC delivered a trailing four-quarter earnings surprise of 13.9%, on average.
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Here's Why You Should Invest in GigaCloud (GCT) Stock Now
GigaCloud Technology Inc. (GCT - Free Report) integrates its supplier-fulfilled retailing business model with research and development aimed at harnessing advanced algorithms to further refine its strong cloud infrastructure. This strategic fusion enables the company to provide a superior B2B selling and sourcing experience for all involved in the marketplace.
Addressing the rising demand for large parcel merchandise, GCT is witnessing notable growth in GigaCloud Marketplace GMV, sales volume and the number of buyers and sellers. Sales surged 96.5% year over year in the first quarter of 2024, with GigaCloud Marketplace GMV increasing 64%.
GigaCloud Technology Inc. Revenue (TTM)
GigaCloud Technology Inc. revenue-ttm | GigaCloud Technology Inc. Quote
In late 2023, GCT completed the acquisitions of Noble House and Wondersign, significantly advancing its position as a full-service end-to-end B2B solution provider in the large marketplace. The buyouts have empowered the company to enhance its footprint across various geographies, diversify its product range with premium stock-keeping units, integrate cutting-edge technology, and extend its business network, all contributing to its strengthened presence and capabilities.
Let’s take a look at some other factors that make GCT an attractive pick.
Solid Rank and VGM Score: GCT sports a Zacks Rank #1 (Strong Buy) and has a VGM Score of A. Our research shows that stocks with a VGM Score of A or B, when combined with a Zacks Rank #1 or 2 (Buy), offer the best investment opportunities for investors. Thus, the company is a compelling investment proposition at the moment.
Northward Estimate Revisions: One estimate for 2024 moved north in the past 60 days versus no southward revision, reflecting analysts’ confidence in the company. The Zacks Consensus Estimate for 2024 earnings has moved up 9.1% in the past 60 days.
Positive Earnings Surprise History: GCT has an impressive earnings surprise history. The company outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an earnings surprise of 47.9%, on average.
Strong Growth Prospects: The Zacks Consensus Estimate for GCT’s 2024 earnings is pegged at $3.25, indicating 41.3% growth from the year-ago levels. Earnings in 2025 are expected to increase 23.7% from the prior-year actuals.
Other Stocks to Consider
A couple of other top-ranked stocks from the broader Zacks Business Services sector are Booz Allen Hamilton (BAH - Free Report) and SPX Technologies, Inc. (SPXC - Free Report) .
Booz Allen Hamilton has a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
BAH has a long-term earnings growth expectation of 14%. It delivered a trailing four-quarter earnings surprise of 12.5%, on average.
SPX Technologies, Inc. currently flaunts a Zacks Rank of 1. It has a long-term earnings growth expectation of 18%. SPXC delivered a trailing four-quarter earnings surprise of 13.9%, on average.