Global-E Online Ltd. (NASDAQ:GLBE) Receives $59.08 Average Price Target from Analysts

Global-E Online Ltd. (NASDAQ:GLBE) has been assigned an average rating of “Moderate Buy” from the twelve research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $59.08.

Several research firms recently weighed in on GLBE. Benchmark cut their price objective on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Piper Sandler raised their price objective on Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and set a $64.00 price target on shares of Global-E Online in a research report on Wednesday, March 12th. Raymond James raised their price objective on Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, JMP Securities lifted their price target on Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 21st.

Institutional Investors Weigh In On Global-E Online

A number of hedge funds have recently bought and sold shares of GLBE. Fred Alger Management LLC lifted its stake in Global-E Online by 204.6% during the fourth quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company’s stock worth $231,178,000 after purchasing an additional 2,847,868 shares during the period. Lord Abbett & CO. LLC acquired a new stake in shares of Global-E Online during the fourth quarter worth approximately $40,146,000. Norges Bank acquired a new stake in shares of Global-E Online in the fourth quarter valued at approximately $38,875,000. SG Americas Securities LLC increased its holdings in shares of Global-E Online by 5,939.0% in the fourth quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock valued at $34,703,000 after purchasing an additional 625,855 shares in the last quarter. Finally, Eventide Asset Management LLC grew its holdings in Global-E Online by 59.1% during the 3rd quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock worth $60,091,000 after acquiring an additional 580,450 shares during the period. 94.60% of the stock is currently owned by institutional investors.

Global-E Online Price Performance

GLBE opened at $37.46 on Thursday. The stock has a 50-day moving average price of $51.05 and a 200-day moving average price of $46.45. The firm has a market cap of $6.15 billion, a PE ratio of -85.14, a P/E/G ratio of 4.61 and a beta of 1.30. Global-E Online has a 1 year low of $28.11 and a 1 year high of $63.69.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The company had revenue of $262.91 million during the quarter, compared to the consensus estimate of $250.96 million. During the same period in the previous year, the company posted $0.22 EPS. The firm’s revenue was up 41.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Global-E Online will post 0.25 EPS for the current year.

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.