Piper Sandler analyst Billy Fitzsimmons reiterated an Overweight rating and $48.00 price target on Global-E Online Ltd (NASDAQ: GLBE).

The analyst commented: "Recent Strength at Global-e Merchants Gives Us Upward Bias to GMV Growth; GLBE has been one of the more resilient names in our coverage list this year (+3% YTD vs. coverage median return of -29% YTD), due to its volume-based pricing model, higher defensibility from AI disintermediation (GLBE is the MoR), and multitude of growth levers. In this report, we take a closer look at public disclosures from a handful of Global-e merchants (Aritzia, Victoria's Secret, FIGS, Michael Kors, and Ralph Lauren). Positive trends at all five merchants lead us to come away with an upward bias to both same store sales growth (expected to moderate for the remainder of the year) and 2026E GMV growth guidance (+33% y/y). Reiterate OW rating and $48 PT."

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Shares of Global-E Online Ltd closed at $38.90 yesterday.