Global-e Online (NASDAQ:GLBE) Posts Earnings Results, Beats Expectations By $0.04 EPS

Global-e Online (NASDAQ:GLBE) posted its quarterly earnings results on Wednesday. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.04, MarketWatch Earnings reports. Global-e Online had a negative net margin of 26.73% and a negative return on equity of 15.08%. The firm had revenue of $133.60 million for the quarter, compared to analyst estimates of $140.93 million. During the same period in the prior year, the firm posted ($0.41) earnings per share. The company’s quarterly revenue was up 26.5% compared to the same quarter last year.

Global-e Online Stock Up 5.6 %

GLBE opened at $30.37 on Friday. The company has a fifty day moving average of $36.58 and a 200-day moving average of $37.39. Global-e Online has a twelve month low of $18.14 and a twelve month high of $45.72. The stock has a market cap of $4.99 billion, a PE ratio of -35.31 and a beta of 1.34.

Wall Street Analysts Forecast Growth

GLBE has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $48.00 price objective on shares of Global-e Online in a research note on Thursday. KeyCorp dropped their price target on shares of Global-e Online from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday. Piper Sandler decreased their target price on shares of Global-e Online from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday. UBS Group reduced their price objective on Global-e Online from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, The Goldman Sachs Group dropped their price target on Global-e Online from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Global-e Online presently has a consensus rating of “Moderate Buy” and an average target price of $42.30.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Amundi raised its stake in Global-e Online by 2,263.7% during the 4th quarter. Amundi now owns 85,565 shares of the company’s stock worth $218,000 after buying an additional 81,945 shares during the period. Hsbc Holdings PLC purchased a new position in Global-e Online in the second quarter worth $213,000. Franklin Resources Inc. bought a new position in Global-e Online during the second quarter valued at about $207,000. Advisors Asset Management Inc. increased its stake in shares of Global-e Online by 56.1% during the 1st quarter. Advisors Asset Management Inc. now owns 4,832 shares of the company’s stock worth $163,000 after purchasing an additional 1,737 shares during the last quarter. Finally, Captrust Financial Advisors increased its position in Global-e Online by 19,195.0% in the first quarter. Captrust Financial Advisors now owns 3,859 shares of the company’s stock worth $130,000 after buying an additional 3,839 shares during the last quarter. 59.23% of the stock is owned by institutional investors and hedge funds.

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.