Raymond James Lowers Global-e Online (NASDAQ:GLBE) Price Target to $35.00

Global-e Online (NASDAQ:GLBEGet Rating) had its price objective decreased by stock analysts at Raymond James from $40.00 to $35.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ target price suggests a potential upside of 71.40% from the company’s current price.

Several other equities analysts have also issued reports on GLBE. Bank of America boosted their price target on Global-e Online from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. Jefferies Financial Group lowered their price target on Global-e Online from $42.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday. Morgan Stanley lowered their price target on Global-e Online from $51.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday. Piper Sandler lowered their price target on Global-e Online from $30.00 to $27.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, The Goldman Sachs Group lowered their price target on Global-e Online from $38.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Global-e Online presently has an average rating of “Buy” and a consensus target price of $36.67.

Global-e Online Stock Performance

Global-e Online stock opened at $20.42 on Thursday. The business’s 50-day simple moving average is $26.31 and its 200-day simple moving average is $24.87. The firm has a market capitalization of $3.18 billion, a PE ratio of -17.01 and a beta of 1.07. Global-e Online has a 52 week low of $15.63 and a 52 week high of $69.83.

Global-e Online (NASDAQ:GLBEGet Rating) last issued its quarterly earnings results on Tuesday, August 16th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.01. Global-e Online had a negative return on equity of 13.94% and a negative net margin of 53.83%. The firm had revenue of $87.31 million for the quarter, compared to analyst estimates of $83.50 million. During the same period in the previous year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up 52.4% compared to the same quarter last year. Research analysts forecast that Global-e Online will post -1.24 earnings per share for the current year.

Institutional Investors Weigh In On Global-e Online

Institutional investors have recently added to or reduced their stakes in the stock. Truist Financial Corp boosted its holdings in shares of Global-e Online by 179.4% in the 1st quarter. Truist Financial Corp now owns 10,043 shares of the company’s stock worth $339,000 after acquiring an additional 6,448 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Global-e Online by 11.8% in the 1st quarter. Park Avenue Securities LLC now owns 9,559 shares of the company’s stock worth $323,000 after acquiring an additional 1,012 shares in the last quarter. Triumph Capital Management boosted its holdings in shares of Global-e Online by 28.1% in the 1st quarter. Triumph Capital Management now owns 15,055 shares of the company’s stock worth $509,000 after acquiring an additional 3,305 shares in the last quarter. Values First Advisors Inc. boosted its holdings in shares of Global-e Online by 116.2% in the 1st quarter. Values First Advisors Inc. now owns 14,494 shares of the company’s stock worth $490,000 after acquiring an additional 7,791 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Global-e Online by 4.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 56,638 shares of the company’s stock worth $1,913,000 after acquiring an additional 2,493 shares in the last quarter. 68.15% of the stock is owned by institutional investors and hedge funds.

About Global-e Online

(Get Rating)

Global-E Online Ltd., together with its subsidiaries, provides a platform to enable and accelerate direct-to-consumer cross-border e-commerce in Israel, the United Kingdom, the United States, and internationally. Its platform enables international shoppers to buy online and merchants to sell from, and to, worldwide.

Further Reading

Analyst Recommendations for Global-e Online (NASDAQ:GLBE)

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