Global-e Online price target raised to $48 from $42 at Piper Sandler

Piper Sandler analyst Brent Bracelin raised the firm’s price target on Global-e Online (GLBE) to $48 from $42 and keeps an Overweight rating on the shares. The firm says that the 4%-9% intraday selloff – on top of a 32% selloff year-to-date before the print – appears overdone for a cross-border platform of choice benefiting from an increasingly complex trade backdrop. Q3 revenue growth came in healthy at 25% year-over-year, global trading volumes have remained robust in both Q3 and Q4-to-date, and the company continues to serve customers with opportune services in this dynamic environment, it adds.