TLDR:
- GigaCloud Technology (NASDAQ:GCT) stock price down 6.4% on Friday.
- Roth Mkm increased price target on GCT to $18.00 with a “buy” rating.
GigaCloud Technology Inc. (NASDAQ:GCT) saw a 6.4% decrease in its stock price on Friday, trading as low as $32.56 with a closing price of $32.67. Roth Mkm raised their price target on GCT to $18.00 and gave the company a “buy” rating. The company reported $0.59 EPS for the quarter, surpassing analyst estimates. Institutional investors have been adding to their stakes in GCT, including Morgan Stanley. GigaCloud Technology provides B2B ecommerce solutions for large parcel merchandise on a global scale.