Global-e Online (GLBE) – Investment Analysts’ Weekly Ratings Updates

Several analysts have recently updated their ratings and price targets for Global-e Online (NASDAQ: GLBE):

• 11/17/2023 – Global-e Online had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $48.00 to $36.00. They now have a “buy” rating on the stock.
• 11/16/2023 – Global-e Online had its price target lowered by analysts at KeyCorp from $42.00 to $40.00. They now have an “overweight” rating on the stock.
• 11/16/2023 – Global-e Online had its price target lowered by analysts at Raymond James from $45.00 to $41.00. They now have an “outperform” rating on the stock.
• 11/16/2023 – Global-e Online had its price target lowered by analysts at Morgan Stanley from $41.00 to $33.00. They now have an “equal weight” rating on the stock.
• 11/16/2023 – Global-e Online had its price target lowered by analysts at UBS Group AG from $50.00 to $45.00. They now have a “buy” rating on the stock.
• 11/16/2023 – Global-e Online had its price target lowered by analysts at Benchmark Co. from $50.00 to $40.00. They now have a “buy” rating on the stock.
• 11/16/2023 – Global-e Online had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $48.00 price target on the stock.
• 11/15/2023 – Global-e Online had its price target lowered by analysts at Piper Sandler from $47.00 to $45.00. They now have an “overweight” rating on the stock.
• 10/23/2023 – Global-e Online had its price target lowered by analysts at Piper Sandler from $54.00 to $47.00. They now have an “overweight” rating on the stock.
• 9/26/2023 – Global-e Online had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $54.00 price target on the stock.
• 9/22/2023 – Global-e Online is now covered by analysts at UBS Group AG. They set a “buy” rating and a $50.00 price target on the stock.

Global-e Online Price Performance

Shares of NASDAQ GLBE traded up $1.39 during midday trading on Monday, hitting $31.91. The stock had a trading volume of 2,435,335 shares, compared to its average volume of 1,345,598. Global-e Online Ltd. has a fifty-two week low of $18.14 and a fifty-two week high of $45.72. The firm has a market cap of $5.24 billion, a P/E ratio of -37.10 and a beta of 1.34. The company’s 50-day simple moving average is $36.39 and its 200 day simple moving average is $37.56.

Global-e Online (NASDAQ:GLBE) last released its earnings results on Wednesday, November 15th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.04. Global-e Online had a negative return on equity of 15.08% and a negative net margin of 26.73%. The firm had revenue of $133.60 million for the quarter, compared to analyst estimates of $140.93 million. During the same quarter in the prior year, the firm posted ($0.41) earnings per share. The company’s quarterly revenue was up 26.5% on a year-over-year basis. Equities analysts expect that Global-e Online Ltd. will post -0.89 EPS for the current fiscal year.

Institutional Trading of Global-e Online

Several hedge funds and other institutional investors have recently made changes to their positions in GLBE. Morgan Stanley boosted its holdings in Global-e Online by 18.2% in the third quarter. Morgan Stanley now owns 15,827,478 shares of the company’s stock worth $628,984,000 after acquiring an additional 2,438,737 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Global-e Online by 1,236.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 6,969,582 shares of the company’s stock valued at $140,576,000 after purchasing an additional 6,448,167 shares during the period. Artisan Partners Limited Partnership increased its stake in Global-e Online by 0.3% during the 2nd quarter. Artisan Partners Limited Partnership now owns 3,458,507 shares of the company’s stock valued at $141,591,000 after purchasing an additional 8,905 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Global-e Online by 14.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,185,991 shares of the company’s stock worth $86,871,000 after buying an additional 280,936 shares during the last quarter. Finally, Temasek Holdings Private Ltd lifted its stake in shares of Global-e Online by 31.0% in the first quarter. Temasek Holdings Private Ltd now owns 2,112,000 shares of the company’s stock valued at $68,070,000 after buying an additional 500,000 shares in the last quarter. 59.23% of the stock is currently owned by institutional investors.

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.