James Faucette, an analyst from Morgan Stanley, maintained the Buy rating on Global-e Online. The associated price target remains the same with $46.00.
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James Faucette has given his Buy rating due to a combination of factors that highlight Global-e Online’s strong market position and growth potential. The company has demonstrated resilience in its key business trends, with stable same-store sales and favorable competitive dynamics. This stability is expected to continue, particularly with the execution of plans in the second half of 2024, which could attract more investors.
Additionally, Global-e Online is expected to maintain or exceed its net new merchant gross merchandise volume (GMV) levels, even with reduced contributions from enterprise merchants in the near term. The company’s ability to offer value-added services, such as duty drawback, is anticipated to support service fee stability or even growth in the coming years. Furthermore, Global-e Online’s competitive differentiation remains robust against other market players, reinforcing confidence in its future performance.
In another report released today, Needham also maintained a Buy rating on the stock with a $40.00 price target.