Certainly! The frame size length is also important. A too long horizontal tube with a too long stem makes cycling unpleasant. Because of this your neck muscles will become too tight and you want to prevent this.
To determine the correct size, place both hands on top of the brake levers. If your arms are slightly bent, the length is correct. If both arms are too stretched, then you better mount a shorter stem. In case of a slight deviation, it may help to tilt the handlebars slightly towards you. This way you will sit a little more upright and this position will feel more relaxed.
The above methods are also averages. For the correct adjustment and for customized advice you better visit the store. We can help you with the correct adjustment of your racing bike. In addition, we have a wide range of different racing bikes in stock and we can help you customizing the bike you prefer.