KeyBanc lowered the firm’s price target on Global-e Online to $38 from $40 and keeps an Overweight rating on the shares. The firm notes Q2 results came in above expectations as full year guidance was lowered primarily on the bankruptcy of a large customer and some consumer softness leading to lower same-store sales activity. KeyBanc remains bullish on the name given continued top-line growth trajectory from a robust pipeline of new logos.
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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GLBE:
- Global-e Online Celebrates Record-Breaking Quarter
- Is GLBE a Buy, Before Earnings?
- Global-e to Announce Financial Results for the Second Quarter 2024 on August 14, 2024
- Global-e Online price target raised to $40 from $37 at Morgan Stanley
- Global-e Online price target lowered to $47 from $50 at Piper Sandler