Needham & Company LLC Reaffirms Buy Rating for Global-E Online (NASDAQ:GLBE)

Global-E Online (NASDAQ:GLBE)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They currently have a $40.00 price target on the stock. Needham & Company LLC’s price target points to a potential upside of 21.07% from the company’s previous close.

Several other research firms also recently commented on GLBE. Piper Sandler reissued an “overweight” rating and set a $42.00 target price on shares of Global-E Online in a research report on Wednesday. Benchmark reduced their price objective on shares of Global-E Online from $61.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday. The Goldman Sachs Group reduced their price objective on shares of Global-E Online from $59.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley raised shares of Global-E Online from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $55.00 to $46.00 in a research report on Wednesday, March 26th. Finally, UBS Group reduced their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $49.42.

Global-E Online Price Performance

NASDAQ:GLBE opened at $33.04 on Thursday. The firm has a 50-day moving average of $35.34 and a 200-day moving average of $45.74. The company has a market cap of $5.59 billion, a PE ratio of -75.09, a PEG ratio of 4.61 and a beta of 1.36. Global-E Online has a one year low of $26.64 and a one year high of $63.69.

Global-E Online (NASDAQ:GLBE) last posted its earnings results on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The company had revenue of $189.88 million during the quarter, compared to the consensus estimate of $187.84 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. On average, equities research analysts expect that Global-E Online will post 0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLBE. Fifth Third Bancorp lifted its stake in shares of Global-E Online by 69.1% during the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after buying an additional 197 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Global-E Online by 2.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock valued at $436,000 after buying an additional 200 shares in the last quarter. Voya Investment Management LLC lifted its stake 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 valued at $930,000 after buying an additional 227 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Global-E Online by 1.6% during 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 lifted its stake in shares of Global-E Online by 7.1% during 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. 94.60% of the stock is currently owned by hedge funds and other 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.