Global-e Online (NASDAQ:GLBE) PT Lowered to $40.00

Global-e Online (NASDAQ:GLBE) had its price objective lowered by equities researchers at Benchmark from $50.00 to $40.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s target price suggests a potential upside of 31.06% from the company’s previous close.

Several other equities research analysts have also issued reports on GLBE. Needham & Company LLC reissued a “buy” rating and set a $48.00 price objective on shares of Global-e Online in a research note on Thursday. Piper Sandler dropped their price target on Global-e Online from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday. Morgan Stanley dropped their price target on Global-e Online from $41.00 to $33.00 and set an “equal weight” rating for the company in a research note on Thursday. UBS Group initiated coverage on Global-e Online in a research note on Friday, September 22nd. They set a “buy” rating and a $50.00 price target for the company. Finally, Jefferies Financial Group lifted their price target on Global-e Online from $40.00 to $45.00 in a research note on Tuesday, August 8th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Global-e Online presently has an average rating of “Moderate Buy” and a consensus target price of $41.50.

Global-e Online Stock Performance

NASDAQ:GLBE opened at $30.52 on Thursday. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of -35.49 and a beta of 1.34. Global-e Online has a 52-week low of $18.14 and a 52-week high of $45.72. The stock has a fifty day moving average of $36.39 and a 200 day moving average of $37.41.

Global-e Online (NASDAQ:GLBE) last posted its quarterly earnings data on Wednesday, November 15th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.04. The company had revenue of $133.60 million during the quarter, compared to analyst estimates of $140.93 million. Global-e Online had a negative return on equity of 15.08% and a negative net margin of 26.73%. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.41) earnings per share. Equities analysts forecast that Global-e Online will post -0.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. IFP Advisors Inc purchased a new position in Global-e Online during the 2nd quarter valued at about $26,000. RiverPark Advisors LLC purchased a new position in Global-e Online during the 3rd quarter valued at about $26,000. Quarry LP increased its holdings in Global-e Online by 169.9% during the 1st quarter. Quarry LP now owns 915 shares of the company’s stock valued at $29,000 after purchasing an additional 576 shares during the period. Tower Research Capital LLC TRC purchased a new position in Global-e Online during the 2nd quarter valued at about $32,000. Finally, Money Concepts Capital Corp purchased a new position in Global-e Online during the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 59.23% 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.