Why Global-e Online Stock Zoomed Nearly 24% Higher This Week

E-commerce specialist Global-e Online (NASDAQ: GLBE) had quite the week to remember, at least as far as the company's stock performance was concerned. Its share price experienced a lift of almost 24% across the five-day stretch, according to data compiled by S&P Global Market Intelligence. That was thanks to a strong quarterly earnings report, and a set of subsequent analyst price target raises.For Global-e's third quarter, the company earned $176 million, which was 32% higher year over year. That was on the back of a 35% improvement in gross merchandise volume, which landed at just over $1.13 billion. The specialty e-commerce facilitator also managed to narrow its net loss considerably, as it came in at less than $23 million ($0.13 per share) versus the third-quarter 2023 result of $33 million. Both headline metrics beat analyst expectations. On average, pundits tracking Global-e stock were modeling just under $169 million on the top line, and $0.15 per share for net loss, according to data compiled by Zack's. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool