Global-E Online (NASDAQ:GLBE) Price Target Cut to $64.00 by Analysts at Benchmark

Global-E Online (NASDAQ:GLBE) had its target price decreased by Benchmark from $68.00 to $64.00 in a research note issued to investors on Thursday morning,Benzinga reports. Benchmark currently has a buy rating on the stock.

A number of other research firms have also recently issued reports on GLBE. Needham & Company LLC lifted their target price on Global-E Online from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group upped their price objective on shares of Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. KeyCorp boosted their target price on shares of Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. JMP Securities raised their price objective on Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a report on Thursday, November 21st. Finally, Raymond James lifted their price target on Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.25.

Global-E Online Trading Down 8.4 %

NASDAQ GLBE opened at $46.63 on Thursday. The firm’s 50 day simple moving average is $56.72 and its 200 day simple moving average is $45.56. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of -80.40, a P/E/G ratio of 6.37 and a beta of 1.23. 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 released its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. Global-E Online had a negative return on equity of 15.05% and a negative net margin of 14.68%. The firm had revenue of $262.91 million during the quarter, compared to analysts’ expectations of $250.96 million. During the same period in the prior year, the company earned $0.22 earnings per share. The company’s quarterly revenue was up 41.8% on a year-over-year basis. On average, equities research analysts forecast that Global-E Online will post -0.47 earnings per share for the current year.

Institutional Trading of Global-E Online

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its position in shares of Global-E Online by 69.1% in the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares during the period. Geneos Wealth Management Inc. raised its stake in Global-E Online by 1,968.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after buying an additional 748 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Global-E Online in the third quarter valued at $32,000. Arcadia Investment Management Corp MI bought a new stake in Global-E Online during the fourth quarter valued at $59,000. Finally, Whipplewood Advisors LLC acquired a new stake in Global-E Online during the 4th quarter worth about $65,000. Institutional investors and hedge funds 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.