Global-E Online Ltd. (NASDAQ:GLBE) Receives Average Rating of “Buy” from Analysts

Shares of Global-E Online Ltd. (NASDAQ:GLBE) have received a consensus recommendation of “Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat reports. Twelve research analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $51.33.

Several research firms have recently weighed in on GLBE. Wells Fargo & Company lowered their price objective 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. Benchmark dropped their price objective on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. UBS Group reduced their target price on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research note on Friday, February 21st. KeyCorp dropped their price target on Global-E Online from $60.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Finally, The Goldman Sachs Group decreased their price objective on shares of Global-E Online from $59.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd.

Global-E Online Price Performance

Shares of NASDAQ GLBE opened at $36.11 on Friday. The business has a 50-day moving average of $36.14 and a 200-day moving average of $45.84. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of -82.07, a PEG ratio of 4.61 and a beta of 1.36. Global-E Online has a fifty-two week low of $26.64 and a fifty-two week high of $63.69.

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, beating analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $262.91 million during the quarter, compared to the consensus estimate of $250.96 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The business’s revenue was up 41.8% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share. On average, sell-side analysts expect that Global-E Online will post 0.25 EPS for the current year.

Institutional Trading of Global-E Online

A number of institutional investors have recently bought and sold shares of GLBE. Fred Alger Management LLC raised its position in shares of Global-E Online by 204.6% in the fourth quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company’s stock valued at $231,178,000 after buying an additional 2,847,868 shares in the last quarter. Contour Asset Management LLC raised its holdings in Global-E Online by 9.1% in the 4th quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company’s stock valued at $144,336,000 after acquiring an additional 220,519 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Global-E Online by 1.5% during the 4th quarter. Clearbridge Investments LLC now owns 2,268,618 shares of the company’s stock valued at $123,708,000 after acquiring an additional 34,391 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Global-E Online by 40.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after purchasing an additional 533,675 shares in the last quarter. Finally, Spyglass Capital Management LLC increased its position in shares of Global-E Online by 6.8% in the fourth quarter. Spyglass Capital Management LLC now owns 1,487,335 shares of the company’s stock worth $81,104,000 after purchasing an additional 94,664 shares during the period. Institutional investors 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.