5 Stocks in the Limelight After Releasing Their Financial Results

4. Global-e Online Ltd. (NASDAQ:GLBE)

Number of Hedge Fund Holders: 28

Shares of Global-e Online Ltd. (NASDAQ:GLBE) hit a new 52-week low in the extended hours on Monday, May 16, 2022, after posting a wider-than-expected loss for the first quarter. The e-commerce solutions provider reported a loss of 35 cents per share, compared to a loss of 8 cents per share in the year-ago period.

Revenue for the quarter jumped 65.4 percent versus last year to $76.32 million. Analysts were expecting Global-e Online Ltd. (NASDAQ:GLBE) to report a loss of 3 cents per share on revenue of $74.98 million.

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Global-e Online Ltd. (NASDAQ:GLBE) also trimmed its sales outlook for fiscal 2022. The company now anticipates revenue in the range of $383 – $403 million, compared to its previous projection of $411 – $421 million.

Speaking on the results, CEO Amir Schlachet said:

“The business is performing well across all the key metrics, with many exciting new merchant launches including global mega-brand Adidas, who selected Global-e to support its strategic direct-to-consumer growth plan.”