Morgan Stanley upgraded Global-e Online to Overweight from Equal Weight with a price target of $37, up from $33. The analyst is optimistic the company will be able to execute on the planned second half of 2024 growth acceleration, achieve faster-than-modeled GAAP profitability, and continue to be a key enabler of cross-border e-commerce. Concerns about the growth acceleration “miss the forest for the trees” and yesterday’s selloff marks an opportunity to own “one of the highest quality fintech assets in our coverage,” the analyst tells investors in a research note.
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Read More on GLBE:
- Global-e Online Boasts Strong Q1 Growth, Raises Outlook
- GLBE Upcoming Earnings Report: What to Expect?
- Global-E Online Schedules Annual Shareholders’ Meeting
- Global-e to Announce Financial Results for the First Quarter 2024 on May 20, 2024
- Needham technology analysts hold an analyst/industry conference call
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