Analyst Mark Zgutowicz from Benchmark Co. maintained a Buy rating on Global-e Online (GLBE – Research Report) and decreased the price target to $55.00 from $61.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Mark Zgutowicz’s rating is based on several key considerations. Firstly, he acknowledges the potential for Global-e Online to achieve its projected gross merchandise volume (GMV) targets, despite recent macroeconomic challenges such as weakened U.S. non-store retail sales and uncertain consumer spending trends. The company’s reiterated guidance and the possibility of overcoming cross-border trade headwinds provide a positive outlook.
Additionally, Zgutowicz highlights the strategic partnerships with established companies like DHL and Shopify, which could drive net new business and an up-market mix-shift. He also notes the potential for operational efficiencies through automation and AI, which could enhance profitability sooner than expected. These factors, combined with the reduced impact of tariffs and the company’s ability to innovate and expand its market presence, underpin his Buy rating for Global-e Online.
In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $46.00 price target.