GigaCloud Forecasts Hold Steady as Shares Outpace Industry

GigaCloud Technology shares gained 4.6% over the past month, compared with a 0.6% rise for the Zacks S&P 500 composite. The Zacks Technology Services industry fell 0.3% during the same period.

Zacks consensus estimates for GigaCloud’s current-quarter earnings have held at $1.28 per share over the past 30 days. That figure implies 29.3% growth from a year earlier. The sales estimate is $394.8 million, up 18.7% year over year.

For the current fiscal year, analysts’ consensus earnings estimate is $4.18 per share, up 16.4% from a year earlier. The next fiscal year estimate is $4.83 per share, a 15.6% increase. Both estimates were unchanged over the past month.

Zacks puts current- and next-year sales estimates at $1.59 billion and $1.75 billion, respectively. Those figures represent projected growth of 23.4% and 9.9%.

In its latest reported quarter, GigaCloud posted revenue of $411.64 million, up 27.6% year over year, and earnings of $1.16 per share, compared with $0.91 a year earlier. Revenue beat the Zacks consensus estimate of $383.7 million by 7.28%, while the earnings surprise was 36.47%.

The company exceeded consensus earnings and revenue estimates in each of the past four quarters, according to Zacks.