Global-E Online Analysts Increase Their Forecasts After Q2 Results

Global-E Online Ltd GLBE reported better-than-expected results for its second quarter.

Global-E Online reported second-quarter FY23 sales growth of 53% year-over-year, to $133.31 million, beating the consensus of $128.49 million. Loss per share of $(0.22) beat the consensus loss of $(0.26).

The company raised the FY23 revenue outlook to $570 million – $596 million (prior expectation $562 million – $590 million), vs. the consensus of $583.28 million.

Global-E Online shares fell 5% to close at $38.78 on Tuesday, but added 1.6% in today’s pre-market trading session.

These analysts made changes to their price targets on Global-E Online following earnings announcement.

• Needham raised the price target on Global-E Online from $44 to $48. Needham analyst Scott Berg maintained a Buy rating.
• Keybanc increased the price target on Global-E Online from $40 to $42. Keybanc analyst Josh Beck maintained an Overweight rating.
• Raymond James boosted Global-E Online price target from $40 to $45. Raymond James analyst Brian Peterson maintained the stock with an Outperform.
• Piper Sandler analyst Brent Bracelin, meanwhile, reiterated Global E Online with an Overweight and maintained a $54 price target.

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