Global-E Online’s (GLBE) Buy Rating Reiterated at Needham & Company LLC

Global-E Online (NASDAQ:GLBEGet Free Report)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports. They currently have a $48.00 target price on the stock. Needham & Company LLC’s target price would suggest a potential upside of 56.40% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on GLBE. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $40.00 target price on shares of Global-E Online in a report on Monday, April 1st. Bank of America increased their price target on shares of Global-E Online from $46.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler reissued an “overweight” rating and issued a $50.00 price target on shares of Global-E Online in a report on Thursday, February 22nd. Finally, Morgan Stanley raised shares of Global-E Online from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $33.00 to $37.00 in a report on Tuesday. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $43.75.

Read Our Latest Analysis on GLBE

Global-E Online Trading Up 5.4 %

Shares of NASDAQ GLBE opened at $30.69 on Tuesday. 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. The company has a fifty day moving average price of $33.69 and a 200 day moving average price of $35.78.

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

Institutional Trading of Global-E Online

Several large investors have recently made changes to their positions in GLBE. Capital World Investors boosted its position in shares of Global-E Online by 581.5% during the 4th quarter. Capital World Investors now owns 3,105,532 shares of the company’s stock worth $123,072,000 after acquiring an additional 2,649,873 shares in the last quarter. Morgan Stanley boosted its position in Global-E Online by 18.2% in the third quarter. Morgan Stanley now owns 15,827,478 shares of the company’s stock valued at $628,984,000 after buying an additional 2,438,737 shares in the last quarter. Brown Capital Management LLC acquired a new stake in Global-E Online in the first quarter valued at approximately $69,352,000. Contour Asset Management LLC acquired a new stake in Global-E Online in the fourth quarter valued at approximately $57,816,000. Finally, Invesco Ltd. boosted its position in Global-E Online by 198.4% in the third quarter. Invesco Ltd. now owns 1,566,885 shares of the company’s stock valued at $62,268,000 after buying an additional 1,041,746 shares in the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-E Online Company Profile

(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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