Jefferies analyst Samad Samana maintained a Buy rating on Global-e Online (GLBE – Research Report) yesterday and set a price target of $45.00.
Samad Samana has given his Buy rating due to a combination of factors, chief among them being Global-e Online’s solid fourth-quarter results of 2023. Despite the stock’s underperformance, likely attributed to conservative projections for the first quarter and the upcoming year, Samana maintains a strong conviction in the company’s growth potential. He anticipates that Global-e Online will achieve a robust mid-to-high 30s percentage in organic Gross Merchandise Volume (GMV) growth by 2024, which is a key indicator of the company’s overall sales performance and health.
Additionally, Samana believes that this growth will be accompanied by further margin expansion, indicating that Global-e Online could increase profitability alongside its sales. His confidence is further underscored by the addition of Global-e Online to the Jefferies Franchise Picks, a selection of stocks expected to outperform. This suggests that the hurdles set for the company’s 2024 GMV are reasonable and achievable, thus justifying the Buy rating and presenting an optimistic outlook for the company’s financial future.
According to TipRanks, Samana is a 4-star analyst with an average return of 5.0% and a 49.24% success rate. Samana covers the Technology sector, focusing on stocks such as HubSpot, Shopify, and ServiceNow.
In another report released on February 22, Benchmark Co. also maintained a Buy rating on the stock with a $41.00 price target.
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Global-e Online (GLBE) Company Description:
Global E Online Ltd provides e-commerce solutions. It offers a platform to enable and accelerate global, direct-to-consumer cross-border e-commerce. The platform was purpose-built for international shoppers to buy seamlessly online and for merchants to sell from, and to, anywhere in the world. It localizes the shopper experience in an effort to make international transactions as seamless as domestic ones. The platform increases the conversion of international traffic into sales by removing much of the complexity associated with international e-commerce.
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
