BofA lowered the firm’s price target on Global-e Online to $45 from $47 and keeps a Buy rating on the shares. Global-e reported good Q2 results, with GMV, revenue, and adjusted EBTIDA above consensus, but 2024 GMV and revenue guidance were lowered, which could pressure the stock in the near-term, the analyst tells investors in a research note. While acknowledging potential near-term sentiment headwinds from the growth guide down, BofA believes the underlying fundamentals are supportive of the firm’s long-term Buy thesis.
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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