Truist upgraded Global-E Online citing strong volume growth and a recent acquisition bolstering fulfillment capabilities.
Truist analyst Matthew Coad upgraded Global-E Online (NASDAQ:GLBE) to Buy from Hold, raising the price target to $39 from $34. The upgrade reflects optimism over volume growth, driven by market expansion and a recent increase in new merchants.
Global-E’s gross merchandise volume (GMV) in managed markets could quadruple in coming years, while its acquisition of Passport Global enhances fulfillment capabilities. Jefferies previously affirmed confidence in the company’s 2026 GMV targets, projecting over 30% growth.
The company also announced a $500M share repurchase program, subject to regulatory approvals, signaling confidence in its financial position.