Global-e Online price target lowered to $40 from $50 at Benchmark

Benchmark lowered the firm’s price target on Global-e Online to $40 from $50 and keeps a Buy rating on the shares. Given the “disappointing” Q3 results and carry into Q4 guidance, the analyst understands the stock’s “shoot first ask questions later reaction yesterday” and the firm has reduced its 2024 revenue expectations by about 12% to $752M to reflect “early macro related conservatism,” the analyst tells investors.