Global-E Soars: Q3 Sales Surge 32%, FY24 Outlook Raised Amid GMV Boom
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 20 2024
0mins
Source: Benzinga
Company Performance: Global-E Online Ltd. reported a 32% year-over-year sales growth to $176 million, exceeding analyst expectations, with significant increases in Gross Merchandise Value (GMV) and non-GAAP gross profit.
Future Outlook: The company raised its FY24 revenue guidance to between $732.9 million and $744.9 million, anticipating continued strong growth momentum due to successful merchant launches and high new bookings ahead of the holiday season.
Analyst Views on GLBE
Wall Street analysts forecast GLBE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GLBE is 47.75 USD with a low forecast of 41.00 USD and a high forecast of 52.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Analyst Rating
8 Buy
1 Hold
0 Sell
Strong Buy
Current: 37.180
Low
41.00
Averages
47.75
High
52.00
Current: 37.180
Low
41.00
Averages
47.75
High
52.00
About GLBE
Global-E Online Ltd is an Israel-based company engaged primarily in the software development. The Company develops e-commerce platform known as Global-e, which enable direct-to-consumer cross-border e-commerce. Through its end-to-end solutions that combine localization capabilities, big-data business intelligence models, international logistics and cross-border experience, the Company's platform enables retailers and brands to improve international traffic conversion and sales as well as to achieve global online growth. The Company cooperates with software engineers as well as other specialists. The Company operates from seven offices worldwide and is the chosen partner of retailers and brands across the United States, Europe and Asia.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
