Global-E Online Analysts Increase Their Forecasts After Q2 Results
Portfolio Pulse from Lisa Levin
Global-E Online Ltd (NASDAQ:GLBE) reported Q2 FY23 sales growth of 53% YoY, beating consensus estimates. The company also raised its FY23 revenue outlook. Despite this, shares fell 5% on Tuesday, but gained 1.6% in pre-market trading. Post earnings, analysts from Needham, Keybanc, Raymond James, and Piper Sandler raised their price targets on Global-E Online.
August 09, 2023 | 11:22 am
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Global-E Online reported strong Q2 results and raised its FY23 outlook. Despite initial drop, shares are recovering. Analysts have raised their price targets, indicating positive sentiment.
Global-E Online's strong Q2 results and raised FY23 outlook are positive signals for the company's performance. The stock initially dropped, possibly due to profit-taking or market volatility, but is showing signs of recovery. The raised price targets by analysts further indicate a positive sentiment towards the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100