Global-e Online price target lowered to $48 from $50 at UBS

UBS lowered the firm’s price target on Global-e Online (GLBE) to $48 from $50 and keeps a Buy rating on the shares after assuming coverage of the name. Global-e is in the early stages of penetrating a more than $800B market opportunity by volume, and is capable of delivering a more than 30% gross merchandise value and gross profit compound annual growth rate over the next 3 years, the analyst tells investors in a research note. The firm sees Q3 as a potential clearing event and believes the increased visibility to merchant launches, continued ramp-up of Managed Markets, and a record customer pipeline bode well for strong growth for 2025 and beyond, creating a path for multiple expansion and estimate revisions.