Needham & Company LLC Cuts Global-E Online (NASDAQ:GLBE) Price Target to $40.00

Global-E Online (NASDAQ:GLBE) had its price target lowered by Needham & Company LLC from $64.00 to $40.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also issued reports on the stock. Piper Sandler raised their target price on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Wells Fargo & Company lowered their price target on Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Morgan Stanley raised Global-E Online from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $55.00 to $46.00 in a research report on Wednesday, March 26th. Benchmark lowered their target price on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Finally, KeyCorp upped their price target on Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $51.33.

Global-E Online Trading Up 4.5 %

Shares of NASDAQ:GLBE opened at $36.33 on Tuesday. The stock has a market capitalization of $6.14 billion, a PE ratio of -82.57, a P/E/G ratio of 4.61 and a beta of 1.36. Global-E Online has a 1 year low of $26.64 and a 1 year high of $63.69. The firm has a fifty day moving average price of $37.52 and a 200 day moving average price of $45.89.

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

Hedge Funds Weigh In On Global-E Online

Hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp raised its position in Global-E Online by 69.1% in the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Global-E Online by 2.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock valued at $436,000 after purchasing an additional 200 shares during the period. Voya Investment Management LLC lifted its position in shares of Global-E Online by 1.3% during the 4th quarter. Voya Investment Management LLC now owns 17,060 shares of the company’s stock worth $930,000 after buying an additional 227 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Global-E Online by 1.6% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company’s stock valued at $908,000 after buying an additional 260 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Global-E Online by 7.1% in the 4th quarter. Mackenzie Financial Corp now owns 6,740 shares of the company’s stock valued at $368,000 after buying an additional 448 shares in the last quarter. 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.