Global-E Online Ltd. (NASDAQ:GLBE) Receives Average Rating of “Buy” from Analysts

Shares of Global-E Online Ltd. (NASDAQ:GLBE) have been given a consensus rating of “Buy” by the twelve brokerages that are covering the stock, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $57.00.

A number of analysts have recently weighed in on GLBE shares. Wells Fargo & Company cut their target price on Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Morgan Stanley upgraded shares of Global-E Online from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $55.00 to $46.00 in a research note on Wednesday, March 26th. Needham & Company LLC reissued a “buy” rating and issued a $64.00 target price on shares of Global-E Online in a report on Wednesday, March 12th. UBS Group cut their price target on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, The Goldman Sachs Group decreased their price objective on shares of Global-E Online from $59.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd.

Global-E Online Stock Performance

NASDAQ:GLBE opened at $29.18 on Monday. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of -66.32, a P/E/G ratio of 4.61 and a beta of 1.36. Global-E Online has a 52 week low of $28.11 and a 52 week high of $63.69. The firm’s 50-day simple moving average is $46.39 and its 200 day simple moving average is $46.58.

Global-E Online (NASDAQ:GLBE) last announced its earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. The company had revenue of $262.91 million for the quarter, compared to analysts’ expectations of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The business’s revenue for the quarter was up 41.8% on a year-over-year basis. During the same period last year, the firm earned $0.22 earnings per share. Sell-side analysts anticipate that Global-E Online will post 0.25 EPS for the current year.

Hedge Funds Weigh In On Global-E Online

Institutional investors and hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp boosted its stake in shares of Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Global-E Online by 2.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock valued at $436,000 after buying an additional 200 shares during the last quarter. Voya Investment Management LLC boosted its position in Global-E Online by 1.3% during the 4th quarter. Voya Investment Management LLC now owns 17,060 shares of the company’s stock worth $930,000 after buying an additional 227 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Global-E Online by 1.6% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company’s stock worth $908,000 after acquiring an additional 260 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in Global-E Online by 7.1% in the 4th quarter. Mackenzie Financial Corp now owns 6,740 shares of the company’s stock valued at $368,000 after acquiring an additional 448 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.

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.