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: "We hosted investor meetings with Global-e CFO Ofer Koren yesterday where we came away incrementally more positive on GLBE's current growth trajectory and competitive positioning. Our key take-away was that the Street's overhanging tariff concerns are likely overblown as the company has not experienced any material impact to date with GMV levels in line with prior expectations. Conversations on the company's changing SHOP relationship have no real impact on expected win rates, although it could be a very modest positive impact through lower rev share but a very minimal profitability headwind if the 1P Managed Markets relationship takes off. We view the GMV upside the 1P MM opportunity offers to greatly exceed minimal profitability concerns. Lastly, the new $200mm buyback program is likely a repeatable capital allocation strategy."

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 $36.62 yesterday.

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