Global-e Online (NASDAQ:GLBE) Rating Reiterated by Needham & Company LLC

Global-e Online (NASDAQ:GLBE)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports. They currently have a $48.00 price objective on the stock. Needham & Company LLC’s price objective suggests a potential upside of 57.27% from the company’s current price.

Several other equities analysts also recently issued reports on the company. Morgan Stanley cut their price objective on Global-e Online from $41.00 to $33.00 and set an “equal weight” rating for the company in a research report on Thursday. Raymond James cut their price objective on Global-e Online from $45.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday. Piper Sandler cut their price objective on Global-e Online from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday. Jefferies Financial Group boosted their target price on Global-e Online from $40.00 to $45.00 in a research report on Tuesday, August 8th. Finally, The Goldman Sachs Group dropped their target price on Global-e Online from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Global-e Online presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.50.

Global-e Online Price Performance

Shares of GLBE stock opened at $30.52 on Thursday. The stock’s fifty day simple moving average is $36.39 and its 200 day simple moving average is $37.41. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of -35.49 and a beta of 1.34. Global-e Online has a one year low of $18.14 and a one year high of $45.72.

Global-e Online (NASDAQ:GLBE) last issued 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. Global-e Online had a negative return on equity of 15.08% and a negative net margin of 26.73%. The firm had revenue of $133.60 million during the quarter, compared to the consensus estimate of $140.93 million. During the same quarter in the previous year, the company posted ($0.41) EPS. The business’s revenue for the quarter was up 26.5% compared to the same quarter last year. On average, research analysts anticipate that Global-e Online will post -0.89 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. acquired a new position in Global-e Online in the second quarter valued at about $205,000. SG Americas Securities LLC boosted its position in shares of Global-e Online by 0.6% during the first quarter. SG Americas Securities LLC now owns 72,959 shares of the company’s stock worth $2,351,000 after buying an additional 419 shares during the period. Meitav Investment House Ltd. boosted its position in shares of Global-e Online by 12.7% during the second quarter. Meitav Investment House Ltd. now owns 522,928 shares of the company’s stock worth $21,132,000 after buying an additional 59,028 shares during the period. Malaga Cove Capital LLC acquired a new position in Global-e Online during the second quarter valued at approximately $239,000. Finally, IFP Advisors Inc acquired a new position in Global-e Online during the second quarter valued at approximately $26,000. 59.23% of the stock is owned by institutional investors and hedge funds.

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.