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Needham Remains a Buy on Global-e Online (GLBE)

Needham analyst Scott Berg maintained a Buy rating on Global-e Online (GLBEResearch Report) today and set a price target of $44.00. The company’s shares opened today at $32.83.

According to TipRanks, Berg is a 5-star analyst with an average return of 9.7% and a 52.54% success rate. Berg covers the Technology sector, focusing on stocks such as Avalara, WalkMe, and PROS Holdings.

Global-e Online has an analyst consensus of Strong Buy, with a price target consensus of $33.00, implying a 0.52% upside from current levels. In a report released on August 14, Jefferies also maintained a Buy rating on the stock with a $31.00 price target.

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GLBE market cap is currently $4.28B and has a P/E ratio of -28.89.

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Global E Online Ltd provides e-commerce solutions. It offers a platform to enable and accelerate global, direct-to-consumer cross-border e-commerce. The platform was purpose-built for international shoppers to buy seamlessly online and for merchants to sell from, and to, anywhere in the world. It localizes the shopper experience in an effort to make international transactions as seamless as domestic ones. The platform increases the conversion of international traffic into sales by removing much of the complexity associated with international e-commerce.

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