Global-E Online (NASDAQ:GLBE) PT Raised to $47.00 at Bank of America

Global-E Online (NASDAQ:GLBEGet Free Report) had its target price upped by Bank of America from $46.00 to $47.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 53.14% from the stock’s current price.

Several other research analysts have also weighed in on GLBE. Morgan Stanley upgraded Global-E Online from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $33.00 to $37.00 in a report on Tuesday. Wells Fargo & Company reissued an “overweight” rating and issued a $40.00 price target on shares of Global-E Online in a research note on Monday, April 1st. Piper Sandler reissued an “overweight” rating and issued a $50.00 price target on shares of Global-E Online in a research note on Thursday, February 22nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $48.00 price target on shares of Global-E Online in a research note on Friday, April 5th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $43.75.

Check Out Our Latest Stock Report on Global-E Online

Global-E Online Trading Up 5.4 %

GLBE stock opened at $30.69 on Tuesday. The business’s 50-day moving average price is $33.69 and its two-hundred day moving average price is $35.78. The firm has a market cap of $5.04 billion, a PE ratio of -37.89 and a beta of 1.13. Global-E Online has a 1-year low of $27.30 and a 1-year high of $45.72.

Global-E Online (NASDAQ:GLBEGet Free Report) last posted its earnings results on Wednesday, February 21st. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The business had revenue of $185.40 million for the quarter, compared to the consensus estimate of $181.74 million. Global-E Online had a negative return on equity of 19.33% and a negative net margin of 23.48%. The business’s revenue was up 32.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. On average, analysts forecast that Global-E Online will post -0.5 earnings per share for the current year.

Hedge Funds Weigh In On Global-E Online

A number of institutional investors have recently bought and sold shares of GLBE. RiverPark Advisors LLC acquired a new position in Global-E Online during the third quarter worth approximately $26,000. Global Retirement Partners LLC increased its position in Global-E Online by 31.2% during the first quarter. Global Retirement Partners LLC now owns 1,650 shares of the company’s stock worth $60,000 after buying an additional 392 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Global-E Online during the third quarter worth approximately $126,000. Ables Iannone Moore & Associates Inc. acquired a new position in Global-E Online during the fourth quarter worth approximately $141,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Global-E Online during the third quarter worth approximately $175,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

About Global-E Online

(Get Free Report)

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.

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