Global-E Online Analysts Increase Their Forecasts After Q1 Results
Portfolio Pulse from Avi Kapoor
Global-E Online Ltd. (NASDAQ:GLBE) reported better-than-expected Q1 FY24 sales results, raised its FY24 revenue guidance, and saw analysts increase their price targets. The company reported a 24% YoY sales growth to $145.90 million, beating the consensus estimate of $141.5 million. Loss per share was 19 cents, better than the expected 23 cents. The company raised its FY24 sales guidance to $733 million – $773 million and sees FY24 GMV of $4.625 billion – $4.865 billion. Analysts from Morgan Stanley, B of A Securities, and Needham increased their price targets and ratings for GLBE.
May 21, 2024 | 12:30 pm
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Global-E Online Ltd. (NASDAQ:GLBE) reported strong Q1 FY24 results, raised its FY24 revenue guidance, and saw multiple analysts increase their price targets. The company reported a 24% YoY sales growth to $145.90 million, beating the consensus estimate of $141.5 million. Loss per share was 19 cents, better than the expected 23 cents. The company raised its FY24 sales guidance to $733 million – $773 million and sees FY24 GMV of $4.625 billion – $4.865 billion. Analysts from Morgan Stanley, B of A Securities, and Needham increased their price targets and ratings for GLBE.
The strong Q1 FY24 results, raised FY24 guidance, and increased price targets from multiple analysts are likely to positively impact GLBE's stock price in the short term. The company's better-than-expected performance and optimistic future outlook signal strong growth potential, which is likely to attract investor interest.
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