Shares of cross-border e-commerce company Global-E Online (GLBE) gained 15% in November, according to data provided by S&P Global Market Intelligence. The company posted a solid third-quarter earnings report in November. However…
it’s erased all of those gains already in December.
Global-E markets cross-border shopping and payment solutions for e-commerce companies. These include features such as shopping in local currencies and instant shipping and customs calculations. Its client list includes top-tier names like Hugo Boss and LVMH, and it’s demonstrating solid growth.
In the third quarter, gross merchandise volume increased 86%, and revenue increased 77%. It added new clients to its roster and expanded relationships with several others. It’s particularly enjoying its partnership with Shopify, which has broadened its exposure to new merchants. Global-E is easily integrated into Shopify’s platform as well as many other e-commerce platforms, such as Meta Platforms (formerly known as Facebook), and it has programs for both large and small companies.
Management raised its full-year outlook after the report, and it’s expecting $77.4 million in fourth-quarter revenue at the midpoint, and $240 million in full-year revenue. That was raised, quite a lot, from $229 million at the midpoint, and it reflects a company with high growth potential. The company is well positioned to benefit from trends toward global e-commerce and digital payments.
However, as investor fears about the new omicron coronavirus variant took hold of the markets over the past few weeks, Global-E stock wasn’t spared. It’s directly in the line of new pandemic restrictions, which could…
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