Global-E Online’s (GLBE) “Market Outperform” Rating Reiterated at JMP Securities

Global-E Online (NASDAQ:GLBE)‘s stock had its “market outperform” rating reissued by JMP Securities in a research report issued on Tuesday, Benzinga reports. They presently have a $46.00 price objective on the stock. JMP Securities’ price target points to a potential upside of 49.35% from the company’s current price.

A number of other equities analysts also recently commented on GLBE. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of Global-E Online in a report on Monday, April 1st. Piper Sandler reiterated an “overweight” rating and set a $50.00 price objective on shares of Global-E Online in a research note on Thursday, February 22nd. Bank of America lifted their target price on Global-E Online from $46.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a research report on Tuesday. Finally, Benchmark restated a “buy” rating and set a $41.00 price target on shares of Global-E Online in a research report on Tuesday. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $43.83.

Global-E Online Price Performance

Shares of GLBE stock opened at $30.80 on Tuesday. The firm has a fifty day moving average of $33.50 and a two-hundred day moving average of $35.69. The firm has a market cap of $5.06 billion, a P/E ratio of -41.62 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:GLBE) last announced its quarterly earnings data 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. The firm had revenue of $145.90 million for the quarter, compared to analysts’ expectations of $141.55 million. Global-E Online had a negative return on equity of 20.08% and a negative net margin of 20.52%. Global-E Online’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. On average, sell-side analysts expect that Global-E Online will post -0.46 EPS for the current year.

Institutional Trading of Global-E Online

Hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley grew 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 worth $628,984,000 after buying an additional 2,438,737 shares during the last quarter. Capital World Investors raised its holdings in Global-E Online by 60.5% during the 1st quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock worth $181,150,000 after buying an additional 1,877,953 shares during the period. Eventide Asset Management LLC lifted its stake in Global-E Online by 0.5% during the fourth quarter. Eventide Asset Management LLC now owns 2,464,197 shares of the company’s stock valued at $97,656,000 after buying an additional 13,350 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Global-E Online by 9.9% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,403,473 shares of the company’s stock worth $95,250,000 after buying an additional 217,482 shares during the period. Finally, Nikko Asset Management Americas Inc. increased its position in shares of Global-E Online by 10.8% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,224,278 shares of the company’s stock worth $88,037,000 after acquiring an additional 217,415 shares in the last quarter. 94.60% of the stock is currently owned by 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.