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

Global-E Online (NASDAQ:GLBE) had its price target trimmed by Wells Fargo & Company from $45.00 to $40.00 in a report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts also recently issued reports about the company. Morgan Stanley raised Global-E Online from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $55.00 to $46.00 in a research note on Wednesday, March 26th. UBS Group cut 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 Friday, February 21st. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price objective on shares of Global-E Online in a research note on Thursday. KeyCorp cut their price objective 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 dropped their price target on Global-E Online from $59.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Global-E Online has a consensus rating of “Buy” and a consensus target price of $49.42.

Global-E Online Stock Performance

Shares of NASDAQ GLBE opened at $33.04 on Thursday. The business’s 50-day simple moving average is $35.34 and its 200-day simple moving average is $45.79. Global-E Online has a 52 week low of $26.64 and a 52 week high of $63.69. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of -75.09, a P/E/G 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 business had revenue of $189.88 million for the quarter, compared to the consensus estimate of $187.84 million. As a group, equities research analysts forecast that Global-E Online will post 0.25 earnings per share for the current year.

Institutional Investors Weigh In On Global-E Online

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp increased its holdings in Global-E Online by 69.1% in the fourth 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 last quarter. Geneos Wealth Management Inc. increased its holdings in Global-E Online by 1,968.4% in the fourth 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 last quarter. Berbice Capital Management LLC bought a new stake in Global-E Online in the first quarter valued at about $36,000. Arcadia Investment Management Corp MI bought a new stake in Global-E Online in the fourth quarter valued at about $59,000. Finally, Whipplewood Advisors LLC bought a new stake in Global-E Online in the fourth quarter valued at about $65,000. Institutional investors own 94.60% of the company’s stock.

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.