Global-e Online (NASDAQ:GLBE) Shares Up 3.3% Following Analyst Upgrade

Shares of Global-e Online Ltd. (NASDAQ:GLBE – Get Rating) shot up 3.3% during trading on Wednesday after Raymond James raised their price target on the stock from $35.00 to $40.00. The company traded as high as $34.25 and last traded at $33.88. 2,217,747 shares were traded during mid-day trading, an increase of 100% from the average session volume of 1,109,688 shares. The stock had previously closed at $32.80.

GLBE has been the subject of a number of other reports. KeyCorp upped their price target on Global-e Online from $35.00 to $40.00 and gave the company an “overweight” rating in a research note 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 report on Thursday, February 23rd. Jefferies Financial Group boosted their price objective on Global-e Online from $35.00 to $40.00 in a research report on Monday. Bank of America boosted their price objective on Global-e Online from $36.00 to $42.00 in a research report on Tuesday. Finally, Piper Sandler boosted their price objective on Global-e Online from $27.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, February 23rd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Global-e Online currently has a consensus rating of “Buy” and an average target price of $37.88.

Institutional Investors Weigh In On Global-e Online

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. raised its stake in shares of Global-e Online by 6.6% during the 1st quarter. Ameriprise Financial Inc. now owns 212,922 shares of the company’s stock worth $6,862,000 after purchasing an additional 13,227 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Global-e Online by 4.8% during the 1st quarter. JPMorgan Chase & Co. now owns 1,197,311 shares of the company’s stock worth $38,588,000 after purchasing an additional 54,709 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Global-e Online by 0.9% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,321,994 shares of the company’s stock worth $42,608,000 after purchasing an additional 12,260 shares in the last quarter. State Street Corp raised its stake in shares of Global-e Online by 4.8% during the 1st quarter. State Street Corp now owns 46,830 shares of the company’s stock worth $1,509,000 after purchasing an additional 2,135 shares in the last quarter. Finally, Graham Capital Management L.P. bought a new stake in Global-e Online in the 1st quarter valued at $2,999,000. Institutional investors own 61.12% of the company’s stock.

Global-e Online Trading Up 2.9 %

The business has a 50 day moving average of $30.05 and a two-hundred day moving average of $26.35. The firm has a market cap of $5.44 billion, a P/E ratio of -29.09 and a beta of 1.25.

Global-e Online (NASDAQ:GLBE – Get Rating) last posted its quarterly earnings results on Monday, May 22nd. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.02. Global-e Online had a negative return on equity of 20.08% and a negative net margin of 41.06%. The business had revenue of $117.60 million for the quarter, compared to analysts’ expectations of $111.65 million. During the same quarter in the prior year, the business earned ($0.05) EPS. The firm’s revenue for the quarter was up 54.1% on a year-over-year basis. On average, sell-side analysts predict that Global-e Online Ltd. will post -0.99 EPS for the current year.

Global-e Online Company Profile

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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.