Global-e Online Ltd. (NASDAQ:GLBE) Receives $45.67 Average Target Price from Analysts

Shares of Global-e Online Ltd. (NASDAQ:GLBE) have been assigned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $45.67.

GLBE has been the topic of a number of research reports. Needham & Company LLC boosted their price objective on Global-e Online from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Benchmark initiated coverage on Global-e Online in a research note on Monday, August 7th. They issued a “buy” rating and a $50.00 price objective on the stock. KeyCorp boosted their price objective on Global-e Online from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 9th. Piper Sandler reissued an “overweight” rating and issued a $54.00 price objective on shares of Global-e Online in a research note on Wednesday, August 9th. Finally, Morgan Stanley dropped their price objective on Global-e Online from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 9th.

Global-e Online Price Performance

Shares of Global-e Online stock opened at $37.62 on Friday. The business’s fifty day moving average price is $40.58 and its two-hundred day moving average price is $35.21. The company has a market capitalization of $6.18 billion, a P/E ratio of -35.16 and a beta of 1.33. Global-e Online has a 1-year low of $18.14 and a 1-year high of $45.72.

Global-e Online (NASDAQ:GLBE) last announced its earnings results on Tuesday, August 8th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.04. The firm had revenue of $133.31 million for the quarter, compared to the consensus estimate of $128.79 million. Global-e Online had a negative return on equity of 18.57% and a negative net margin of 34.58%. The firm’s revenue for the quarter was up 52.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.31) EPS. On average, research analysts expect that Global-e Online will post -0.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. IFP Advisors Inc purchased a new position in Global-e Online in the second quarter valued at about $26,000. Quarry LP boosted its stake in shares of Global-e Online by 169.9% during the 1st quarter. Quarry LP now owns 915 shares of the company’s stock worth $29,000 after acquiring an additional 576 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Global-e Online during the 2nd quarter worth about $32,000. Money Concepts Capital Corp bought a new stake in shares of Global-e Online during the 4th quarter worth about $40,000. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of Global-e Online by 23.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,025 shares of the company’s stock worth $41,000 after acquiring an additional 378 shares in the last quarter. Hedge funds and other institutional investors own 59.23% of the company’s stock.

About Global-e Online

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.