Wells Fargo lowered the firm’s price target on Global-e Online to $40 from $50 and keeps an Overweight rating on the shares. While guidance will lower 2024 estimates, management’s confidence in a second half of the year acceleration driven by identifiable drivers leads the firm to believe the guide is more likely conservative than realistic.
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Read More on GLBE:
- GLBE Earnings: Global-e Plunges 15% after Mixed Q4 Print
- Global-E Reports Fourth Quarter and Full Year 2023 Results
- Global-e Online sees 2024 revenue $731M-$771M, consensus $756.02M
- Global-e Online sees Q1 revenue $138.5M-$145M, consensus $150.48M
- Global-e Online reports Q4 EPS (13c), consensus (13c)
