Global-e Online (NASDAQ:GLBE) Price Target Raised to $42.00

Global-e Online (NASDAQ:GLBE – Get Rating) had its price target increased by Bank of America from $36.00 to $42.00 in a report released on Tuesday, The Fly reports.

A number of other research firms also recently weighed in on GLBE. Piper Sandler upped their price target on Global-e Online from $27.00 to $34.00 and gave the stock an overweight rating in a research note on Thursday, February 23rd. Jefferies Financial Group upped their price target on Global-e Online from $35.00 to $40.00 in a research note on Monday. Needham & Company LLC reissued a buy rating and issued a $44.00 price objective on shares of Global-e Online in a research note on Thursday, February 23rd. Finally, KeyCorp increased their price objective on Global-e Online from $35.00 to $40.00 and gave the stock an overweight rating in a research note on Wednesday, April 5th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of Buy and an average price target of $37.88.

Global-e Online Price Performance

Shares of NASDAQ:GLBE opened at $32.47 on Tuesday. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of -27.99 and a beta of 1.25. The business’s 50-day moving average is $30.14 and its 200-day moving average is $26.40. Global-e Online has a 1 year low of $16.32 and a 1 year high of $37.65.

Global-e Online (NASDAQ:GLBE – Get Rating) last posted its quarterly earnings results on Monday, May 22nd. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02. Global-e Online had a negative return on equity of 20.01% and a negative net margin of 41.06%. The business had revenue of $117.60 million for the quarter, compared to the consensus estimate of $111.65 million. During the same period in the prior year, the business earned ($0.05) EPS. The firm’s revenue for the quarter was up 54.1% on a year-over-year basis. Analysts anticipate that Global-e Online will post -0.99 EPS for the current year.

Institutional Trading of Global-e Online

A number of large investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. increased its position in Global-e Online by 23.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,025 shares of the company’s stock worth $41,000 after buying an additional 378 shares during the last quarter. SG Americas Securities LLC increased its position in Global-e Online by 0.6% in the first quarter. SG Americas Securities LLC now owns 72,959 shares of the company’s stock worth $2,351,000 after buying an additional 419 shares during the last quarter. State Street Corp boosted its holdings in shares of Global-e Online by 1.4% in the second quarter. State Street Corp now owns 33,503 shares of the company’s stock worth $676,000 after acquiring an additional 451 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Global-e Online by 3.0% in the first quarter. Vanguard Group Inc. now owns 19,918 shares of the company’s stock worth $673,000 after acquiring an additional 571 shares during the period. Finally, Quarry LP boosted its holdings in shares of Global-e Online by 169.9% in the first quarter. Quarry LP now owns 915 shares of the company’s stock worth $29,000 after acquiring an additional 576 shares during the period. 61.12% of the stock is owned by hedge funds and other institutional investors.

About Global-e Online

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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.