Raymond James analyst Brian Peterson lowered the firm’s price target on Global-e Online (GLBE) to $55 from $60 and keeps an Outperform rating on the shares. Global-e’s Q1 results showed fundamental trends that were much stronger than recent concerns would suggest, but posted less upside than historical averages, the analyst tells investors in a research note. The extended Shopify (SHOP) agreement does create some noise around revenue and margin impact, though this was contemplated in the company’s long-term framework given at the March analyst day and shouldn’t change the long-term opportunity, the firm says.
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Read More on GLBE:
- Global-e Online price target lowered to $52 from $55 at Benchmark
- Strategic Positioning and Growth Potential: A Buy Recommendation for Global-e Online
- Global-e Online price target lowered to $40 from $45 at Wells Fargo
- Global-e Online: Buy Rating Reaffirmed Despite Short-term Challenges, Long-term Growth Potential in $175 Billion Market
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