Global-E Online’s (GLBE) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of Global-E Online (NASDAQ:GLBE) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $64.00 target price on the stock.

Several other research firms have also recently commented on GLBE. UBS Group lowered 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 lowered their target price on Global-E Online from $60.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company lowered their target price on Global-E Online from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday. Piper Sandler reaffirmed an “overweight” rating and set a $42.00 price objective on shares of Global-E Online in a research report on Wednesday. Finally, Benchmark lowered their price objective on Global-E Online from $61.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $49.42.

Global-E Online Price Performance

GLBE opened at $33.04 on Thursday. Global-E Online has a 12 month low of $26.64 and a 12 month high of $63.69. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of -75.09, a PEG ratio of 4.61 and a beta of 1.36. The business has a fifty day moving average price of $35.34 and a 200 day moving average price of $45.79.

Global-E Online (NASDAQ:GLBE) last released 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. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The firm had revenue of $189.88 million during the quarter, compared to analysts’ expectations of $187.84 million. On average, research analysts anticipate that Global-E Online will post 0.25 earnings per share for the current year.

Institutional Trading of Global-E Online

A number of large investors have recently made changes to their positions in GLBE. SG Americas Securities LLC boosted its position in shares of Global-E Online by 5,939.0% in the 4th quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock valued at $34,703,000 after purchasing an additional 625,855 shares during the period. Mutual Advisors LLC acquired a new stake in shares of Global-E Online in the 4th quarter valued at about $371,000. Fifth Third Bancorp boosted its position in shares of Global-E Online by 69.1% in the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Global-E Online by 1,968.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after purchasing an additional 748 shares during the period. Finally, Juncture Wealth Strategies LLC boosted its position in shares of Global-E Online by 3.9% in the 4th quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company’s stock valued at $718,000 after purchasing an additional 494 shares during the period. 94.60% of the stock is owned by institutional investors and hedge funds.

About Global-E Online

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.