Raymond James Cuts Global-E Online (NASDAQ:GLBE) Price Target to $55.00

Global-E Online (NASDAQ:GLBE) had its price target decreased by Raymond James from $60.00 to $55.00 in a report released on Thursday,Benzinga reports. Raymond James currently has an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the company. JMP Securities reaffirmed a “market outperform” rating and set a $64.00 price objective on shares of Global-E Online in a research report on Thursday. KeyCorp decreased their price target 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. Benchmark decreased their price target on Global-E Online from $61.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Piper Sandler reiterated an “overweight” rating and issued a $42.00 price target on shares of Global-E Online in a research note on Wednesday. Finally, The Goldman Sachs Group decreased their price target on Global-E Online from $59.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $49.42.

Global-E Online Price Performance

Shares of GLBE stock opened at $33.04 on Thursday. Global-E Online has a 1-year low of $26.64 and a 1-year high of $63.69. The stock’s 50-day moving average is $35.34 and its 200 day moving average is $45.79. The company has a market cap of $5.59 billion, a P/E ratio of -75.09, a PEG ratio of 4.61 and a beta of 1.36.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $189.88 million for the quarter, compared to the consensus estimate of $187.84 million. On average, analysts anticipate that Global-E Online will post 0.25 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in shares of Global-E Online by 6.9% in the first quarter. Goldman Sachs Group Inc. now owns 4,769,843 shares of the company’s stock worth $170,045,000 after purchasing an additional 308,218 shares during the last quarter. Fred Alger Management LLC raised its stake 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 worth $231,178,000 after purchasing an additional 2,847,868 shares during the last quarter. Contour Asset Management LLC raised its stake in shares of Global-E Online by 17.8% in the first quarter. Contour Asset Management LLC now owns 3,119,286 shares of the company’s stock worth $111,203,000 after purchasing an additional 472,380 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Global-E Online by 1.5% in the fourth quarter. Clearbridge Investments LLC now owns 2,268,618 shares of the company’s stock worth $123,708,000 after purchasing an additional 34,391 shares during the last quarter. Finally, Spyglass Capital Management LLC raised its stake 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 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.