Improving fundamentals with BaaS initiatives

M N 11 Apr 2024 CMB International Global Markets | Equity Research | Company Update GigaCloud (GCT US) Improving fundamentals with BaaS initiatives Target Price US$46.00 After short-term stock price volatility on insider filings, we suggest investors to (Previous TP US$43.00) refocus on GigaCloud (GCT)’s strong organic growth and fundamentals Up/Downside 45.6% improvement. We expect GCT to deliver another eye-catching 1Q24E, with topline accelerating to +96% YoY (5% above high-end of guidance) and bottom Cu ...