Raymond James has reduced its price objective on Global-E Online Ltd. (NASDAQ: GLBE) to $45 from $50 but left its Outperform rating intact following the company’s fourth-quarter 2025 financial report. At the current market price of $34.81, according to InvestingPro data, Raymond James’ adjusted target implies about a 29% potential upside.
The brokerage firm made the adjustment after reviewing Global-E’s Q4 2025 results, which outpaced expectations even when foreign exchange effects were excluded. The company posted robust revenue expansion, registering 31.57% growth over the trailing 12 months. Analysts in the market are anticipating that sales growth will continue in the current year.
Raymond James emphasized signs of continued customer momentum and strong same-store sales early in the year, which it said offer greater visibility into the company’s 2026 outlook. The firm also observed that artificial intelligence has helped open incremental routes for new-customer acquisition; recent months have seen an uptick in new-customer demonstrations, the note said.
Financial strength was another point highlighted in the analyst commentary. InvestingPro assigns Global-E a "GOOD" financial health rating, pointing to a balance sheet that contains more cash than debt. Raymond James singled out specific growth levers for 2026 and beyond, including opportunities within Managed Markets and other value-added services.
On the question of emerging technologies, Raymond James judged Global-E’s cross-border merchant-of-record business model to be resilient against AI-related threats and described AI as a longer-term tailwind for the company. From a valuation perspective, the shares trade at 15 times Raymond James’ free cash flow estimate for calendar year 2027.
Other broker activity followed the company’s quarterly disclosure. After Global-E issued its Q4 2025 results that surpassed analyst forecasts and provided a 2026 outlook ahead of market expectations, BofA Securities raised its price target on the stock from $50 to $52 while keeping a Buy rating. The stronger-than-expected results and the optimistic outlook contributed to a notable lift in the company’s share price, according to market commentary.
Across the analyst community, the consensus recommendation remains Buy, with published targets ranging from $38 at the low end to $64 at the high end. The mix of upward revisions to guidance and continued revenue momentum underpinned the prevailing positive view among analysts.
Summary
Raymond James trimmed its price target on Global-E to $45 but retained an Outperform rating after the company delivered Q4 2025 results that exceeded expectations. The stock trades at $34.81 and offers an implied upside to the revised Raymond James target. Market analysts broadly continue to favor the shares, and BofA raised its target to $52 following the quarterly report.
Key points
- Raymond James cut its target on Global-E to $45 from $50 while maintaining an Outperform rating.
- Global-E reported Q4 2025 results that beat expectations and posted 31.57% revenue growth over the past 12 months; analysts expect continued sales growth in the current year.
- Analysts note customer momentum, stronger same-store sales early in the year, AI-driven increases in new-customer demonstrations, and potential growth from Managed Markets and value-added services; InvestingPro classifies the company’s financial health as "GOOD." These developments affect the software, e-commerce and payments sectors.
Risks and uncertainties
- The company’s future performance depends on execution against its 2026 outlook and on sustaining customer momentum; this affects investors and the e-commerce software sector.
- Valuation sensitivity - the shares trade at 15 times Raymond James’ 2027 free cash flow estimate, exposing the stock to investor reactions if cash flow expectations shift; this impacts equity investors and growth-oriented tech portfolios.
- While Raymond James views the merchant-of-record model as defensible versus AI, any change in competitive dynamics or customer acquisition trends could alter the company’s growth trajectory; this is relevant to cross-border payments and SaaS service providers.