Global-E Online jumps after Q4 revenue beat

Global-E Online

17/02/2022 15:58

** Shares of Israeli e-commerce platform  GLBE.O  rise as
much as ~28% to a one-month high of $47.12 after co beat Q4
revenue estimates  urn:newsml:reuters.com:*:nASA03127
    ** Stock last up 25%, on course for best day since IPO in
May 2021
    ** Co says Q4 revenue rose 54% to $82.7 mln, beating
analysts' average expectation of $77.6 mln, per Refinitiv IBES
data
    ** However, co posts Q4 net loss of $22.5 mln, compared with
a net profit of $4.3 million in the year-ago period
    ** Raymond James cuts target price to $55 from $68 and
Jefferies lowers target price to $70 from $80 
    ** Shares of GLBE down ~27% so far this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com))