Raymond James analyst Brian Peterson likes what he sees from direct-to-consumer eCommere player Global-e Online (Global-e Online Stock Quote, Chart, News, Analysts, Financials NASDAQ:GLBE) following the company most recent quarterly results.
As reported by Benzinga, James maintained his “Outperform” rating on the stock and raised his price target from $41 to $55.
On November 20, GLBE reported its Q3, 2024 results. The company posted Adjusted EBITDA of $31.1-million on revenue of $176-million, a topline that was up 32% year-over-year.
“We report today the results of another very strong quarter, with growth of GMV accelerating to 35% year over year and many new merchants going live ahead of the holiday season, including the iconic luxury department store Harrods,” said CEO Amir Schlachet said. “Given the successful merchant launches in the recent months, combined with our new bookings for this year which are at an all-time high, we believe that this strong growth momentum will continue.”
Shares of Global-e Online closed November 25 up 4.3 per cent to $52.02.
About The Author /
Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.
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