Global-e Online Ltd. (NASDAQ:GLBE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Global-e Online Ltd. (NASDAQ:GLBE) has received an average rating of “Moderate Buy” from the eleven research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $43.00.

A number of brokerages have weighed in on GLBE. The Goldman Sachs Group boosted their target price on shares of Global-e Online from $36.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. JMP Securities reiterated a “market outperform” rating and set a $46.00 target price on shares of Global-e Online in a research note on Tuesday, December 5th. Needham & Company LLC reiterated a “buy” rating and set a $48.00 target price on shares of Global-e Online in a research note on Thursday, February 22nd. Piper Sandler reiterated an “overweight” rating and set a $50.00 target price on shares of Global-e Online in a research note on Thursday, February 22nd. Finally, Wells Fargo & Company decreased their target price on shares of Global-e Online from $50.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd.

Global-e Online Price Performance

Shares of NASDAQ:GLBE opened at $36.22 on Thursday. Global-e Online has a 1 year low of $26.01 and a 1 year high of $45.72. The company has a market cap of $5.95 billion, a PE ratio of -44.72 and a beta of 1.09. The stock’s 50-day moving average is $36.81 and its 200 day moving average is $36.77.

Global-e Online (NASDAQ:GLBE) last announced its quarterly earnings results on Wednesday, February 21st. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). Global-e Online had a negative net margin of 23.48% and a negative return on equity of 14.58%. The business had revenue of $185.40 million for the quarter, compared to analysts’ expectations of $181.74 million. During the same quarter in the prior year, the firm earned ($0.18) EPS. The firm’s revenue for the quarter was up 32.5% on a year-over-year basis. Analysts expect that Global-e Online will post -0.5 EPS for the current fiscal year.

Institutional Trading of Global-e Online

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RiverPark Advisors LLC purchased a new stake in Global-e Online in the 3rd quarter worth about $26,000. Tower Research Capital LLC TRC purchased a new position in shares of Global-e Online during the second quarter worth approximately $32,000. Quarry LP increased its position in shares of Global-e Online by 169.9% during the first quarter. Quarry LP now owns 915 shares of the company’s stock worth $29,000 after acquiring an additional 576 shares during the period. IFP Advisors Inc purchased a new position in shares of Global-e Online during the second quarter worth approximately $42,000. Finally, Money Concepts Capital Corp purchased a new position in shares of Global-e Online during the fourth quarter worth approximately $40,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

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.