Global-e Online jumps on beat-and-raise quarter

Global-E Online

16/08/2022 13:38

** Shares of Israeli e-commerce platform Global-e Online
 GLBE.O  up ~12% at $30.6 premarket, set to scale four-month
highs 
    ** Co reported Q2 revenue at $87.3 mln beating analyst
estimates of $83.5 mln; beat revenue estimates in past 5
quarters  urn:newsml:reuters.com:*:nGNX3zkpXr
    ** Raised FY22 adjusted EBITDA forecast; widens revenue
forecast range to $406 mln - $426 mln from $411 mln - $421 mln 
    ** GLBE set for biggest pct jump in 3 months if gains hold 
    ** 9 brokerages rate stock "buy" with a median PT of $30
    ** Up to Monday's close, stock down ~57% compared to
~16%slide in Nasdaq composite index  .IXIC  

 (Reporting by Johann M Cherian in Bengaluru)
 ((Yohann.MCherian@thomsonreuters.com;))