Global-e Online gains on raising FY revenue guidance

Global-E Online

17/08/2021 11:51

** Global-e Online  GLBE.O  rises as much 4.4% to $71.25
premarket
    ** Co raises FY revenue guidance to $227 mln to $231 mln,
from previous guidance of $209.0 mln to $213.5 mln  urn:newsml:reuters.com:*:nASA02JE9
    ** Also posts better-than expected Q2 revenue, driven by
service fees revenue
    ** Brokerage Piper Sandler says robust direct to consumer
tailwinds, coupled with a growing mix of cross-border commerce
for large retailers like Marks & Spencer, Hugo Boss, Versace,
Michael Kors, and Marc Jacobs, contributed to strong Q2 results
    ** Raymond James raises PT to $80 from $41 and says gross
merchandise value (GMV) growth looks particularly impressive
given the triple digit comparison, with commentary suggesting
that growth vectors are only starting to ramp

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))