Global-E Online edges higher on upbeat revenue, forecast

Global-E Online

17/08/2022 13:42

** U.S.-listed shares of Israeli ecommerce platform
developer Global-E Online Ltd  GLBE.O  rise 0.6% to $34.22
premarket
    ** GLBE reports Q2 revenue of $87.3 mln, up 52% y/y
    ** Posts Q2 net loss of $48.88 mln, compared with $22.2 mln
a year earlier
    ** Sees Q3 revenue between $99.5 mln and $102.5 mln,
compared with est. of $98.9 mln - Refinitiv
    ** Needham hikes PT to $44 from $25 on expected high
ecommerce sales in the second half of the year and continued
customer expansion strength
    ** At least four other brokerages raise PT
    ** Up to last close, stock had fallen ~46% YTD

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))