Global-E Online (NASDAQ:GLBE) Hits New 1-Year High – What’s Next?

Global-E Online Ltd. (NASDAQ:GLBE)’s share price hit a new 52-week high on Wednesday . The company traded as high as $43.17 and last traded at $42.76, with a volume of 146220 shares. The stock had previously closed at $42.53.

Wall Street Analysts Forecast Growth

GLBE has been the subject of a number of research analyst reports. Morgan Stanley downgraded Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 target price for the company. in a research report on Friday, October 18th. Piper Sandler reiterated a “buy” rating on shares of Global-E Online in a report on Friday, October 18th. KeyCorp reduced their target price on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Needham & Company LLC restated a “buy” rating and issued a $48.00 price target on shares of Global-E Online in a research report on Thursday, August 15th. Finally, Bank of America cut their price objective on 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 research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.09.

Global-E Online Price Performance

The business has a 50 day moving average of $37.67 and a 200 day moving average of $34.63.

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

Institutional Investors Weigh In On Global-E Online

A number of large investors have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in Global-E Online in the third quarter worth approximately $32,000. Toronto Dominion Bank purchased a new stake in shares of Global-E Online in the second quarter valued at about $40,000. Venturi Wealth Management LLC purchased a new position in Global-E Online during the third quarter worth about $87,000. DekaBank Deutsche Girozentrale grew its position in Global-E Online by 18.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after purchasing an additional 624 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Global-E Online by 15.2% in the 1st quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock valued at $215,000 after buying an additional 780 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

About Global-E Online

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.