UBS Group Cuts Global-E Online (NASDAQ:GLBE) Price Target to $48.00

Global-E Online (NASDAQ:GLBE) had its target price trimmed by UBS Group from $50.00 to $48.00 in a research report sent to investors on Friday morning, MarketBeat.com reports. The firm currently has a buy rating on the stock.

GLBE has been the topic of several other research reports. KeyCorp cut their price objective on Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Piper Sandler cut their price target on shares of Global-E Online from $47.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Morgan Stanley downgraded shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective for the company. in a report on Friday. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Global-E Online in a research report on Monday, July 1st. Finally, Bank of America reduced their target price on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Global-E Online currently has an average rating of “Moderate Buy” and an average target price of $43.09.

Global-E Online Price Performance

GLBE opened at $38.21 on Friday. Global-E Online has a fifty-two week low of $27.30 and a fifty-two week high of $42.88. The firm has a market capitalization of $6.28 billion, a P/E ratio of -51.64 and a beta of 1.10. The company’s 50-day moving average is $36.04 and its 200 day moving average is $34.06.

Global-E Online (NASDAQ:GLBE) last posted its earnings results on Wednesday, August 14th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.03. Global-E Online had a negative net margin of 17.33% and a negative return on equity of 16.41%. The firm had revenue of $168.00 million for the quarter, compared to analysts’ expectations of $165.95 million. During the same quarter last year, the firm earned ($0.22) EPS. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, equities research analysts expect that Global-E Online will post -0.5 earnings per share for the current year.

Institutional Trading of Global-E Online

Several hedge funds and other institutional investors have recently modified their holdings of the business. Toronto Dominion Bank purchased a new position in Global-E Online in the 2nd quarter valued at approximately $40,000. RiverPark Advisors LLC boosted its holdings in shares of Global-E Online by 360.9% in the first quarter. RiverPark Advisors LLC now owns 3,650 shares of the company’s stock worth $133,000 after acquiring an additional 2,858 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Global-E Online by 18.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after purchasing an additional 624 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Global-E Online by 15.2% during the 1st quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock valued at $215,000 after purchasing an additional 780 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in Global-E Online during the 2nd quarter worth about $220,000. 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.