Benchmark Reaffirms Buy Rating for Global-E Online (NASDAQ:GLBE)

Global-E Online (NASDAQ:GLBE)‘s stock had its “buy” rating reaffirmed by investment analysts at Benchmark in a report released on Tuesday, Benzinga reports. They presently have a $41.00 price objective on the stock. Benchmark’s target price points to a potential upside of 33.12% from the company’s current price.

A number of other research firms have also weighed in on GLBE. Bank of America lifted their price objective on shares of Global-E Online from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $48.00 target price on shares of Global-E Online in a research 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 report on Monday, April 1st. Morgan Stanley raised Global-E Online from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $33.00 to $37.00 in a report on Tuesday. Finally, Piper Sandler reissued an “overweight” rating and issued a $50.00 target price on shares of Global-E Online in a report on Thursday, February 22nd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $43.83.

Global-E Online Trading Up 2.5 %

Shares of GLBE opened at $30.80 on Tuesday. The firm has a market cap of $5.06 billion, a PE ratio of -41.62 and a beta of 1.13. The company’s 50 day simple moving average is $33.50 and its 200-day simple moving average is $35.69. Global-E Online has a 12-month low of $27.30 and a 12-month high of $45.72.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Monday, May 20th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.04. Global-E Online had a negative return on equity of 20.08% and a negative net margin of 20.52%. The firm had revenue of $145.90 million for the quarter, compared to analysts’ expectations of $141.55 million. During the same quarter in the previous year, the firm posted ($0.26) EPS. The firm’s revenue for the quarter was up 24.1% on a year-over-year basis. As a group, equities research analysts forecast that Global-E Online will post -0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Global-E Online

Institutional investors and hedge funds have recently made changes to their positions in the business. Capital World Investors raised 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 purchasing an additional 2,649,873 shares during the last quarter. Morgan Stanley raised its holdings in shares of 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 during the last quarter. Brown Capital Management LLC purchased a new stake in shares of Global-E Online in the first quarter valued at $69,352,000. Contour Asset Management LLC acquired a new stake in shares of Global-E Online during the fourth quarter valued at $57,816,000. Finally, Invesco Ltd. increased its position in Global-E Online by 198.4% during the 3rd quarter. Invesco Ltd. now owns 1,566,885 shares of the company’s stock worth $62,268,000 after purchasing an additional 1,041,746 shares in the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Global-E Online Company Profile

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.