Global-E Online’s (GLBE) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Global-E Online (NASDAQ:GLBE) in a report released on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a $48.00 price target on the stock.

A number of other equities research analysts have also issued reports on GLBE. Piper Sandler reiterated an overweight rating and issued a $50.00 target price on shares of Global-E Online in a research note on Thursday, February 22nd. Morgan Stanley raised shares of Global-E Online from an equal weight rating to an overweight rating and increased their price objective for the company from $33.00 to $37.00 in a research report on Tuesday. Bank of America boosted their target price on shares of Global-E Online from $46.00 to $47.00 and gave the stock a buy rating in a research report on Tuesday. Finally, Wells Fargo & Company reaffirmed an overweight rating and set a $40.00 price target on shares of Global-E Online in a report on Monday, April 1st. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Global-E Online presently has a consensus rating of Buy and a consensus target price of $43.83.

Global-E Online Stock Performance

GLBE opened at $29.45 on Tuesday. Global-E Online has a 1 year low of $27.30 and a 1 year high of $45.72. The firm has a 50 day moving average price of $33.40 and a 200 day moving average price of $35.65. The company has a market cap of $4.84 billion, a PE ratio of -39.80 and a beta of 1.13.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings data on Monday, May 20th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.04. The company had revenue of $145.90 million during the quarter, compared to analyst estimates of $141.55 million. Global-E Online had a negative net margin of 20.52% and a negative return on equity of 18.05%. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.26) earnings per share. On average, sell-side analysts predict that Global-E Online will post -0.44 earnings per share for the current year.

Institutional Investors Weigh In On Global-E Online

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Morgan Stanley lifted its position in shares of Global-E Online by 18.2% during the third quarter. Morgan Stanley now owns 15,827,478 shares of the company’s stock worth $628,984,000 after purchasing an additional 2,438,737 shares during the last quarter. Capital World Investors lifted 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 last quarter. Eventide Asset Management LLC lifted its holdings in Global-E Online by 0.5% during the 4th quarter. Eventide Asset Management LLC now owns 2,464,197 shares of the company’s stock worth $97,656,000 after buying an additional 13,350 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Global-E Online by 9.9% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,403,473 shares of the company’s stock worth $95,250,000 after acquiring an additional 217,482 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. increased its holdings in shares of Global-E Online by 10.8% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 2,224,278 shares of the company’s stock valued at $88,037,000 after acquiring an additional 217,415 shares during 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.