Global-e Online price target lowered to $40 from $50 at Jefferies

Jefferies analyst Samad Samana lowered the firm’s price target on Global-e Online (GLBE) to $40 from $50 and keeps a Buy rating on the shares. The firm notes Q1 results beat on gross merchandise value and total revenue and on EBITDA. Management attributed the strength to same-store sales even with a smaller FX tailwind. The Service take rate increased quarter-over-quarter and management delivered positive commentary on key platform initiatives. Jefferies notes that Q2 guidance beat expectations, but 2026 guidance was just in-line. The firm thinks the results cleared the bar and is surprised by the stock weakness. Jefferies expects shares to rally once the dust settles.