Global-E Online (NASDAQ:GLBE) Reaches New 12-Month Low – Time to Sell?

Global-E Online Ltd. (NASDAQ:GLBE)’s share price reached a new 52-week low on Monday . The stock traded as low as $26.64 and last traded at $26.90, with a volume of 272737 shares changing hands. The stock had previously closed at $29.18.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Morgan Stanley upgraded shares of Global-E Online from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $55.00 to $46.00 in a research note on Wednesday, March 26th. KeyCorp raised their target price on shares of Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Benchmark dropped their price target 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. UBS Group decreased their target price on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, Wells Fargo & Company lowered their target price on shares of Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, Global-E Online has a consensus rating of “Buy” and an average price target of $57.00.

Global-E Online Trading Down 0.1 %

The stock has a 50 day moving average of $46.39 and a 200-day moving average of $46.58. The company has a market capitalization of $4.93 billion, a P/E ratio of -66.42, a P/E/G ratio of 4.61 and a beta of 1.36.

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

Institutional Investors Weigh In On Global-E Online

Institutional investors and hedge funds have recently bought and sold shares of the business. Fred Alger Management LLC grew its position in shares of 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 in the last quarter. Lord Abbett & CO. LLC bought a new position in Global-E Online in the 4th quarter worth approximately $40,146,000. Norges Bank bought a new stake in shares of Global-E Online during the fourth quarter valued at approximately $38,875,000. SG Americas Securities LLC lifted 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 worth $34,703,000 after buying an additional 625,855 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Global-E Online by 40.7% during the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after acquiring an additional 533,675 shares during the last quarter. 94.60% of the stock is owned by institutional investors.

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.