Global-e Online (NASDAQ:GLBE) Given New $42.00 Price Target at Bank of America

Global-e Online (NASDAQ:GLBEGet Rating) had its price objective raised by Bank of America from $36.00 to $42.00 in a research report report published on Tuesday, The Fly reports.

A number of other equities research analysts also recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Global-e Online from $35.00 to $40.00 in a research note on Monday. KeyCorp boosted their price target on shares of Global-e Online from $35.00 to $40.00 and gave the stock an overweight rating in a research report on Wednesday, April 5th. Needham & Company LLC reiterated a buy rating and issued a $44.00 price objective on shares of Global-e Online in a research note on Thursday, February 23rd. Finally, Piper Sandler boosted their price target on shares of Global-e Online from $27.00 to $34.00 and gave the company an overweight rating in a research note on Thursday, February 23rd. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Global-e Online has a consensus rating of Buy and an average price target of $37.88.

Global-e Online Price Performance

Shares of GLBE stock opened at $32.80 on Tuesday. The stock has a market cap of $5.29 billion, a P/E ratio of -26.24 and a beta of 1.25. The company has a fifty day moving average price of $29.93 and a two-hundred day moving average price of $26.30. Global-e Online has a one year low of $16.32 and a one year high of $37.65.

Global-e Online (NASDAQ:GLBEGet Rating) last released its quarterly earnings results on Monday, May 22nd. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02. Global-e Online had a negative net margin of 47.77% and a negative return on equity of 16.07%. The business had revenue of $117.60 million for the quarter, compared to analyst estimates of $111.65 million. During the same period last year, the firm earned ($0.05) earnings per share. Global-e Online’s revenue for the quarter was up 54.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Global-e Online will post -0.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Global-e Online

A number of hedge funds and other institutional investors have recently made changes to their positions in GLBE. Goldman Sachs Group Inc. increased its position in shares of Global-e Online by 1,236.7% during the second quarter. Goldman Sachs Group Inc. now owns 6,969,582 shares of the company’s stock valued at $140,576,000 after buying an additional 6,448,167 shares during the period. Dragoneer Investment Group LLC grew its position in Global-e Online by 45.1% during the third quarter. Dragoneer Investment Group LLC now owns 8,962,409 shares of the company’s stock valued at $239,834,000 after acquiring an additional 2,783,926 shares during the last quarter. Morgan Stanley grew its position in Global-e Online by 33.2% during the fourth quarter. Morgan Stanley now owns 9,819,329 shares of the company’s stock valued at $202,671,000 after acquiring an additional 2,446,452 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Global-e Online during the third quarter valued at approximately $39,162,000. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Global-e Online during the third quarter valued at approximately $33,502,000. 61.12% of the stock is owned by hedge funds and other institutional investors.

Global-e Online Company Profile

(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.

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

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