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Global-e Online
(NASDAQ:GLBE)
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Rating:82Outperform
Price Target:
$49.00
▲(35.32% Upside)
Action:Reiterated
Date:08/17/26
GLBE scores strongly on financial performance (profitability inflection, strong free cash flow, and low leverage) and is supported by positive price momentum. The primary offset is valuation risk from a high P/E, which makes the stock more sensitive to any growth or margin normalization; the latest earnings call mitigates some of that risk via raised guidance and continued margin expansion outlook.
Positive Factors
Accelerating Growth and Raised Guidance
The raised outlook, alongside Q2 GMV growth of 44% and revenue growth of 39%, indicates strong merchant volumes and improving adoption. Sustained execution would support continued scale, operating leverage and greater relevance in cross-border commerce.
Negative Factors
Slowing Underlying Revenue Growth
Although recent results accelerated, the trailing trend shows material normalization from earlier growth levels. If lower growth persists, Global-e may face a higher burden to sustain margin expansion and justify continued investment in sales, technology and international expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Accelerating Growth and Raised Guidance
The raised outlook, alongside Q2 GMV growth of 44% and revenue growth of 39%, indicates strong merchant volumes and improving adoption. Sustained execution would support continued scale, operating leverage and greater relevance in cross-border commerce.
Read all positive factors
Global-e Online Key Performance Indicators (KPIs)
Any
Revenue by Geography
Shows which countries or regions drive the company’s sales, highlighting where Global-e is gaining traction and where it may be exposed to currency moves, tariffs, or local competition. Persistent concentration in a few markets signals higher risk, while broad geographic growth points to scalable cross-border demand.
Shows which countries or regions drive the company’s sales, highlighting where Global-e is gaining traction and where it may be exposed to currency moves, tariffs, or local competition. Persistent concentration in a few markets signals higher risk, while broad geographic growth points to scalable cross-border demand.
Data provided by:
The Fly
The FlyGlobal-e Online (GLBE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.81B
Dividend YieldN/A
Average Volume (3M)1.58M
Price to Earnings (P/E)44.8
Beta (1Y)1.76
Revenue Growth31.40%
EPS GrowthN/A
CountryUS
Employees1,219
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)0.90
Shares Outstanding167,967,390
10 Day Avg. Volume1,441,541
30 Day Avg. Volume1,579,500
Financial Highlights & Ratios
PEG Ratio-0.52
Price to Book (P/B)7.16
Price to Sales (P/S)6.94
P/FCF Ratio23.79
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$48.50Price Target Upside33.94% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)1.19
Revenue Forecast (FY)$1.33B
Global-e Online Business Overview & Revenue Model
Company Description
Global-E Online Ltd., along with its affiliated companies, operates a technology platform specifically designed to facilitate and expedite direct-to-consumer international online sales. This system enables businesses to effectively reach a worldwi...
How the Company Makes Money
Global-e primarily makes money by charging merchants for enabling and operating cross-border transactions through its platform. Its revenue model is generally tied to gross merchandise value (GMV) processed and/or transaction activity, with fees t...
Global-e Online Earnings Call Summary
Earnings Call Date:Aug 12, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 18, 2026
Earnings Call Sentiment Positive
The call presented strong top-line acceleration (GMV +44%, revenue +39%), meaningful profitability expansion (adjusted EBITDA +62% and margin expansion), raised guidance, a strategic acquisition (Passport), continued product rollouts (Managed Markets V2) and healthy cash generation and buybacks. Headwinds include temporary gross margin pressure from fuel surcharge volatility, some one-time revenue accounting impacts from Managed Markets migration, modest near-term EBITDA contribution from Passport, and ongoing take-rate/mix complexity. Overall, the positives—substantial revenue and EBITDA growth, upgraded guidance, strategic M&A, and strong cash flow—outweigh the operational and mix-related challenges.Positive Updates
Material GMV and Revenue Acceleration
GMV grew 44% YoY to $2.089 billion in Q2 2026 (first time >$2B in a non-peak quarter). Revenue increased 39% YoY to $299 million; last-12-month revenue exceeded $1 billion for the second consecutive quarter.
Negative Updates
Gross Margin Pressure from Fuel Cost Volatility
Non-GAAP gross margin declined to 45.3% in Q2 from 46.5% YoY and GAAP gross margin was 44.1%, primarily due to rising and volatile carrier fuel surcharges that the company temporarily absorbed to reduce merchant pricing volatility.
Read all updates
Q2-2026 Updates
Positive
Negative
Material GMV and Revenue Acceleration
GMV grew 44% YoY to $2.089 billion in Q2 2026 (first time >$2B in a non-peak quarter). Revenue increased 39% YoY to $299 million; last-12-month revenue exceeded $1 billion for the second consecutive quarter.
Read all positive updates
Company Guidance
Global‑e raised its outlook, guiding Q3 GMV of $1.995–$2.045B (midpoint +34% YoY), Q3 revenue of $308.5–$315.5M (>41% YoY) and Q3 adjusted EBITDA of $58.5–$62.5M (≈19.4% margin at midpoint); Passport is expected to contribute roughly $20M of Q3 GMV (MoR), $24–$26M of Q3 revenue and < $1M of Q3 adjusted EBITDA. For full‑year 2026 the company now expects GMV of $8.81–$9.11B (midpoint +36.4%), revenue of $1.305–$1.355B (midpoint +38%) and adjusted EBITDA of $278–$300M (midpoint +46%, ≈21.7% margin), with Passport contributing ~ $60M GMV, $55–$59M revenue and $3–$4M adjusted EBITDA in the back half; Passport’s standalone gross margin is described as mid‑30s. Management said Q2 results beat prior guidance, led to the raise, and affirmed continued margin expansion driven by operating leverage and AI.Global-e Online Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
88
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.11B | 962.20M | 752.76M | 569.95M | 409.05M | 245.27M |
| Gross Profit | 501.25M | 436.25M | 339.43M | 233.60M | 158.18M | 91.43M |
| EBITDA | 180.36M | 92.65M | 101.61M | 40.88M | -159.91M | -65.33M |
| Net Income | 153.71M | 68.27M | -75.55M | -133.81M | -195.41M | -74.93M |
Balance Sheet | ||||||
| Total Assets | 1.36B | 1.46B | 1.26B | 1.20B | 1.16B | 846.13M |
| Cash, Cash Equivalents and Short-Term Investments | 530.41M | 622.84M | 474.44M | 317.42M | 228.20M | 509.07M |
| Total Debt | 25.40M | 23.50M | 24.86M | 23.32M | 19.82M | 21.32M |
| Total Liabilities | 451.60M | 530.10M | 370.05M | 300.38M | 234.48M | 150.38M |
| Stockholders Equity | 903.66M | 932.68M | 893.43M | 901.98M | 928.12M | 695.75M |
Cash Flow | ||||||
| Free Cash Flow | 290.03M | 280.68M | 167.06M | 106.48M | 80.98M | 15.27M |
| Operating Cash Flow | 291.96M | 283.78M | 169.39M | 108.22M | 89.33M | 18.15M |
| Investing Cash Flow | 43.78M | -180.71M | -105.12M | -55.04M | -330.10M | -40.49M |
| Financing Cash Flow | -198.00M | -70.83M | 3.28M | 1.99M | 1.24M | 398.61M |
Global-e Online Technical Analysis
Positive
36.21
Price Trends
37.58
Positive
34.38
Positive
35.45
Positive
Market Momentum
1.05
Positive
54.32
Neutral
27.88
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GLBE, the sentiment is Positive. The current price of 36.21 is below the 20-day moving average (MA) of 40.75, below the 50-day MA of 37.58, and above the 200-day MA of 35.45, indicating a neutral trend. The MACD of 1.05 indicates Positive momentum. The RSI at 54.32 is Neutral, neither overbought nor oversold. The STOCH value of 27.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GLBE.
Global-e Online Risk Analysis
Global-e Online disclosed 1 risk factors in its most recent earnings report. Global-e Online reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Global-e Online Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $6.81B | 44.81 | 16.70% | ― | 31.40% | ― | |
74 Outperform | $1.69B | 23.29 | 14.05% | ― | 10.80% | 59.70% | |
66 Neutral | $7.44B | 38.22 | -17.67% | ― | 0.73% | 44.07% | |
63 Neutral | $13.91B | -41.31 | 11.48% | ― | 7.46% | -2.70% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
51 Neutral | $839.59M | -7.19 | -304.73% | ― | 27.37% | 18.19% | |
48 Neutral | $366.42M | -15.62 | -37.30% | ― | 15.58% | 64.75% |
* Consumer Cyclical Sector Average
GLBE
Global-e Online
40.55
7.96
24.42%
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23.76
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Global-e Online Corporate Events
Global-e Posts Strong Q2 2026 Growth and Raises Full-Year Outlook
Aug 12, 2026
On August 12, 2026, Global-e reported that second-quarter 2026 gross merchandise value rose 44% year-on-year to $2.09 billion, with revenue up 39% to $299 million and adjusted EBITDA jumping 62% to $62.4 million as margin expanded to 20.9%. Manage...
Global-e Completes $350 Million Acquisition of Passport to Bolster Cross-Border Logistics
Jul 1, 2026
On July 1, 2026, Global-e Online closed its $350 million acquisition of Passport Global Inc., a U.S.-based cross-border e-commerce logistics and solutions provider, financed in roughly equal parts by cash and Global-e shares, with up to $75 millio...
Global-e Board Approves New $500 Million Share Repurchase Program
Jun 4, 2026
On June 4, 2026, Israel-based Global-e Online announced that its board approved a new share repurchase program of up to $500 million of its ordinary shares, classified as a “distribution” under Israeli companies law and subject to comp...
Global-e to Acquire Passport for $350 Million to Bolster Cross-Border Logistics
May 26, 2026
On May 26, 2026, Israel-based Global-e Online announced a definitive agreement to acquire Passport Global Inc., a U.S. cross-border e-commerce logistics and solutions provider, for $350 million in upfront consideration, split between cash and Glob...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.