10 Best Multibagger Stocks To Buy Heading into 2025

5. GigaCloud Technology Inc. (NASDAQ:GCT)

1-Year Share Price Performance: ~143%

2-Year Share Price Performance: ~245%

Average Price Target Upside: 138.74%

GigaCloud Technology Inc. (NASDAQ:GCT) provides end-to-end B2B technology solutions for large parcel goods through its “GigaCloud Marketplace,” a platform that combines tools for product discovery, payments, and logistics. This marketplace primarily connects manufacturers in Asia with resellers in regions like the U.S., Asia, and Europe, facilitating efficient and secure cross-border transactions. Initially, the platform focused on furniture and expanded to include home appliances and fitness equipment.

On November 7, GigaCloud (NASDAQ:GCT) reported Q3 revenue of $303.3 million, surpassing the consensus estimate of $279.57 million, and was up over 70% year-over-year. The company achieved record highs in net income at $40.7 million and adjusted EBITDA at $48.8 million. The company continued to expand its marketplace, with active third-party sellers surpassing 1,000 and the buyer base reaching 8,535. Marketplace GMV grew 80% year-over-year, with 72% of GMV from third-party sellers. The company also saw a 140% year-over-year revenue increase in Europe.

GigaCloud (NASDAQ:GCT) also initiated a $46 million share repurchase program on September 3 and has already purchased about $11.4 million in shares as of November 6, 2024. The company intends to retire these shares, reducing the total issued shares to improve long-term shareholder value.

In November 2023, GigaCloud (NASDAQ:GCT) completed the $85 million acquisition of Noble House Home Furnishings, a leading B2B distributor of home furnishings. At its latest earnings call, the company mentioned that it is on track to break even with its Noble House acquisition by year-end.