Global-e Online (NASDAQ:GLBE) Price Target Cut to $36.00

Global-e Online (NASDAQ:GLBE) had its target price cut by investment analysts at The Goldman Sachs Group from $48.00 to $36.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 17.96% from the company’s previous close.

Several other equities research analysts have also recently commented on GLBE. Morgan Stanley lowered their target price 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. Jefferies Financial Group lifted their target price on Global-e Online from $40.00 to $45.00 in a research note on Tuesday, August 8th. Raymond James lowered their target price on Global-e Online from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday. KeyCorp lowered their target price on Global-e Online from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price objective on shares of Global-e Online in a research note on Thursday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Global-e Online has an average rating of “Moderate Buy” and an average target price of $41.50.

Global-e Online Stock Performance

Shares of GLBE opened at $30.52 on Friday. The stock has a fifty day moving average price of $36.39 and a two-hundred day moving average price of $37.49. Global-e Online has a 52-week low of $18.14 and a 52-week high of $45.72. The company 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 (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. As a group, research analysts predict that Global-e Online will post -0.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLBE. Raymond James Financial Services Advisors Inc. lifted its holdings in Global-e Online by 11.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 35,437 shares of the company’s stock worth $1,197,000 after acquiring an additional 3,521 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in Global-e Online during the first quarter worth about $688,000. Sei Investments Co. raised its holdings in Global-e Online by 59.7% during the first quarter. Sei Investments Co. now owns 235,873 shares of the company’s stock worth $7,968,000 after acquiring an additional 88,194 shares in the last quarter. Vanguard Group Inc. raised its holdings in Global-e Online by 3.0% during the first quarter. Vanguard Group Inc. now owns 19,918 shares of the company’s stock worth $673,000 after acquiring an additional 571 shares in the last quarter. Finally, Parkwood LLC raised its holdings in Global-e Online by 110.7% during the first quarter. Parkwood LLC now owns 22,531 shares of the company’s stock worth $761,000 after acquiring an additional 11,840 shares in the last quarter. 59.23% of the stock is currently owned by institutional investors.

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.