GigaCloud price target raised to $18 from $16 at Roth MKM

Roth MKM raised the firm’s price target on GigaCloud to $18 from $16 and keeps a Buy rating on the shares. The company turned in another strong quarter that was highlighted by accelerating top line growth driven by first-person sales, while marketplace metrics also “appear healthy”, the analyst tells investors in a research note. The firm adds that it is updating its model and folding the $85M Noble House acquisition into its estimates.