Wells Fargo & Company Cuts Global-E Online (NASDAQ:GLBE) Price Target to $40.00

Global-E Online (NASDAQ:GLBE) had its target price cut by Wells Fargo & Company from $45.00 to $40.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently weighed in on GLBE. Piper Sandler reaffirmed an “overweight” rating and set a $42.00 price objective on shares of Global-E Online in a research report on Wednesday. UBS Group reduced their price objective on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research report on Friday, February 21st. The Goldman Sachs Group reduced their price objective on Global-E Online from $59.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of Global-E Online in a research report on Thursday. Finally, Morgan Stanley raised 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 report on Wednesday, March 26th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $49.42.

Global-E Online Trading Down 0.2%

NASDAQ:GLBE opened at $33.04 on Thursday. Global-E Online has a 1 year low of $26.64 and a 1 year high of $63.69. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of -75.09, a PEG ratio of 4.61 and a beta of 1.36. The stock has a 50-day moving average price of $35.34 and a two-hundred day moving average price of $45.79.

Global-E Online (NASDAQ:GLBE) last posted its earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The firm had revenue of $189.88 million during the quarter, compared to analysts’ expectations of $187.84 million. Sell-side analysts forecast that Global-E Online will post 0.25 earnings per share for the current year.

Institutional Trading of Global-E Online

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Prostatis Group LLC bought a new stake in Global-E Online during the first quarter worth about $363,000. Goldman Sachs Group Inc. raised its holdings in Global-E Online by 6.9% during the first quarter. Goldman Sachs Group Inc. now owns 4,769,843 shares of the company’s stock worth $170,045,000 after acquiring an additional 308,218 shares in the last quarter. Scientech Research LLC bought a new stake in Global-E Online during the first quarter worth about $1,056,000. Petrus Trust Company LTA raised its holdings in Global-E Online by 106.0% during the first quarter. Petrus Trust Company LTA now owns 12,800 shares of the company’s stock worth $456,000 after acquiring an additional 6,586 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Global-E Online by 17.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,654 shares of the company’s stock worth $1,948,000 after acquiring an additional 8,239 shares in the last quarter. Institutional investors 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.