Piper Sandler analyst Brent Bracelin raised the firm’s price target on Global-e Online (GLBE) to $63 from $44 and keeps an Overweight rating on the shares. The firm notes Q3 marked a rebound in consumer sentiment ahead of the seasonally strong holiday season following the erosion previously witnessed in July/August. Strong results were punctuated by a $44M gross merchandise value beat and the third consecutive quarter of accelerating revenue growth to 32% year-over-year, and were attributed to an increasing contribution from new merchant launches and existing merchant expansion, Piper adds.
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Read More on GLBE:
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