Needham Reiterates Buy Rating on Global-E Online Ltd (GLBE)

Needham analyst Scott Berg reiterated a Buy rating and $40.00 price target on Global-E Online Ltd (NASDAQ: GLBE).

The analyst commented: "GLBE reported solid 1Q results in the face of tariff uncertainty as GMV growth progressed in line with recent trends. However, shares were lower due to a renegotiated SHOP partnership leaving uncertainty around the longer-term benefit of this partnership to Global-e. We are cautiously optimistic this new agreement is a classic trade of generating less revenue today (SHOP seems to really want the payment revenues) for higher volume levels over time through a more usable product to drive higher adoption. We actually like this move as our prior SHOP partnership checks have highlighted some adoption/integration issues due to technology. In our view, any material adoption improvement should more than offset lost revenues given up on payment processing. With the wind-down of warrant amortization, GLBE expects GAAP profitability starting in 2Q."

For an analyst ratings summary and ratings history on Global-E Online Ltd click here. For more ratings news on Global-E Online Ltd click here.

Shares of Global-E Online Ltd closed at $34.28 yesterday.

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