Scott Berg, an analyst from Needham, maintained the Buy rating on Global-e Online (GLBE – Research Report). The associated price target remains the same with $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 strategic positioning and future potential. Despite the uncertainty surrounding tariffs, the company reported strong first-quarter results with continued growth in gross merchandise volume, which aligns with recent trends.
Furthermore, the renegotiated partnership with Shopify, although initially causing some concern, is viewed as a strategic move that could lead to higher adoption rates over time. This new agreement is expected to enhance the usability of Global-e’s product, potentially offsetting any short-term revenue declines from payment processing. Additionally, the anticipated GAAP profitability starting in the second quarter, following the wind-down of warrant amortization, further supports the positive outlook for Global-e Online.
In another report released today, Citizens JMP also maintained a Buy rating on the stock with a $64.00 price target.