Roth MKM analyst Matt Koranda raised the firm’s price target on GigaCloud to $16 from $13 and keeps a Buy rating on the shares. The company’s Q2 results were “strong across all metrics”, with GigaCloud marketplace gross merchandise value showing accelerating growth thanks to healthy engagement with buyers and sellers, the analyst tells investors in a research note. The management’s Q3 sales guidance also suggests sustained growth acceleration ahead, the firm added.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on GCT:
- GigaCloud Technology Inc Announces Second Quarter and First Half 2023 Financial Results, Including Second Consecutive Quarter of Record Profitability
- GCT Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- GigaCloud Technology Inc Announces Changes to its Board of Directors
- GigaCloud Technology to Announce Second Quarter and First Half 2023 Financial Results on August 15, 2023
- GigaCloud Technology Inc Announces It Ceases to Qualify as a Foreign Private Issuer