What happened

Shares of Global-e Online (GLBE 0.24%) charged sharply higher again on Wednesday, surging as much as 9.1%. When the market closed, the stock was still up 7.9%.

The catalyst that sent the e-commerce cross-border specialist climbing was some bullish analyst commentary in the wake of the company's impressive financial report.

So what

After Global-e Online reported better-than-expected second-quarter results, a number of Wall Street's finest chimed in after updating their financial models.

Raymond James analyst Brian Peterson increased his price target on Global-e Online to $40, up from $25, while maintaining an outperform (buy) rating on the shares, according to The Fly. This suggests potential upside for investors of 18% compared to Tuesday's closing price.

Peterson cited the company's 45% to 50% organic growth outlook and its forecast for roughly $2.4 billion in gross merchandise volume (GMV), calling the guidance "impressive." Furthermore, the analyst is impressed by Global-e's optionality, which gives the company multiple ways to maintain its above-average market-share growth for the foreseeable future.

BofA analyst Koji Ikeda raised his price target on Global-e to $40, up from $30, while also maintaining a buy rating on the shares. He particularly liked the company's conservative increase in guidance, given the macroeconomic headwinds that remain. Still, he views Global-e as "best positioned in the large global cross-border e-commerce opportunity." 

Finally, Morgan Stanley analyst James Faucette raised his price target on Global-e to $51, up from $34, while keeping an overweight (buy) rating on the shares. This suggests 50% upside from the stock's closing price yesterday. While Faucette sees this year as "effectively unchanged" after reviewing the results, he is incrementally more bullish for next year, citing the company's impressive array of growth drivers. 

Now what

These analysts are likely on to something. Many e-commerce-related stocks have been left for dead as consumers got up from their keyboards and resumed shopping in brick-and-mortar stores. However, as Global-e proved with its latest results, the death of e-commerce has been greatly exaggerated.

Given the company's ability to execute -- particularly in a challenging macroenvironment -- and the ongoing secular tailwinds driving online retail, I believe Global-e Online is a best-in-breed e-commerce solution and remains a buy.