Jefferies keeps a Buy rating and $45 price target on Global-e Online while adding the stock to the firm’s Franchise Picks List. The company reported “solid” Q4 results, but the stock sold off and has remained subdued due to the outlook for Q1 and FY24, the analyst tells investors in a research note. The firm is “highly convicted” that Global-e Online can deliver mid-to-high 30s organic gross merchandise volume growth in 2024, along with additional margin expansion.
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Read More on GLBE:
- Global-e Online price target lowered to $40 from $50 at Wells Fargo
- GLBE Earnings: Global-e Plunges 15% after Mixed Q4 Print
- Global-E Reports Fourth Quarter and Full Year 2023 Results
- Global-e Online sees 2024 revenue $731M-$771M, consensus $756.02M
- Global-e Online sees Q1 revenue $138.5M-$145M, consensus $150.48M