Benchmark analyst Mark Zgutowicz lowered the firm’s price target on Global-e Online (GLBE) to $55 from $61 and keeps a Buy rating on the shares ahead of the company’s Q1 report due on Wednesday, May 14. The firm reduced its Q1 and FY25 GMV forecasts to $1.23B and $6.31B, respectively, based on a correlation analysis with U.S. non-store retail sales, which notably weakened in March. The firm’s FY25 reduction accounts for macro fluidity factoring an uncertain consumer spending trendline, the analyst tells investors in a preview.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GLBE:
- Positive Outlook for Global-e Online Amid Macroeconomic Challenges and Strategic Partnerships
- Positive Outlook for Global-e Online Amid Strong Q1 Performance and Market Challenges
- Global-e Online price target lowered to $42 from $62 at Piper Sandler
- Global-e Online price target lowered to $45 from $60 at KeyBanc
- Global-e Online price target lowered to $40 from $64 at Needham