Analyst Scott Berg from Needham maintained a Buy rating on Global-e Online and keeping the price target at $40.00.
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Scott Berg has given his Buy rating due to a combination of factors that highlight Global-e Online’s promising growth and strategic positioning. The discussions with Global-e’s CFO, Ofer Koren, reinforced confidence in the company’s growth trajectory and competitive edge, particularly as concerns about tariffs appear to be overstated. Despite changes in the company’s relationship with Shopify, the expected win rates remain unaffected, with potential for a slight positive impact through reduced revenue sharing.
Moreover, the potential upside from the 1P Managed Markets opportunity is seen as significantly outweighing any minimal profitability concerns. Additionally, the introduction of a new $200 million buyback program suggests a sustainable approach to capital allocation, further supporting the positive outlook for Global-e Online’s stock.
According to TipRanks, Berg is an analyst with an average return of -2.4% and a 41.80% success rate. Berg covers the Technology sector, focusing on stocks such as PROS Holdings, Dayforce Inc, and Monday.com.
In another report released on September 4, Bank of America Securities also maintained a Buy rating on the stock with a $48.00 price target.