Global-E Online Ltd. (NASDAQ:GLBE) Receives Consensus Recommendation of “Buy” from Brokerages

Global-E Online Ltd. (NASDAQ:GLBE) has been given an average rating of “Buy” by the twelve analysts that are covering the firm, MarketBeat reports. Twelve investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $49.42.

Several analysts have weighed in on the company. KeyCorp lowered their price target on Global-E Online from $60.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Benchmark lowered their price target on Global-E Online from $61.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. JMP Securities reiterated a “market outperform” rating and set a $64.00 price objective on shares of Global-E Online in a research report on Thursday, May 15th. Morgan Stanley upgraded Global-E Online from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $55.00 to $46.00 in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company reduced their price objective on Global-E Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, May 15th.

Hedge Funds Weigh In On Global-E Online

Several institutional investors and hedge funds have recently bought and sold shares of GLBE. Fifth Third Bancorp grew its position in Global-E Online by 69.1% during the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after acquiring an additional 197 shares during the last quarter. Berbice Capital Management LLC bought a new position in Global-E Online during the 1st quarter worth approximately $36,000. Geneos Wealth Management Inc. grew its position in Global-E Online by 1,968.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after acquiring an additional 748 shares during the last quarter. Assetmark Inc. bought a new position in Global-E Online during the 1st quarter worth approximately $45,000. Finally, Pacer Advisors Inc. grew its position in Global-E Online by 52.9% during the 1st quarter. Pacer Advisors Inc. now owns 1,410 shares of the company’s stock worth $50,000 after acquiring an additional 488 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors.

Global-E Online Stock Performance

Shares of GLBE opened at $31.58 on Tuesday. The stock’s 50-day simple moving average is $34.75 and its 200 day simple moving average is $45.54. Global-E Online has a 52-week low of $26.64 and a 52-week high of $63.69. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of -71.77, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $187.84 million. During the same quarter last year, the firm posted ($0.19) EPS. The company’s revenue was up 30.2% compared to the same quarter last year. On average, research analysts forecast that Global-E Online will post 0.25 earnings per share for the current fiscal year.

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.