Global-E Online Ltd. (NASDAQ:GLBE) Given Average Recommendation of “Buy” by Analysts

Shares of Global-E Online Ltd. (NASDAQ:GLBE) have been assigned an average recommendation of “Buy” from the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued a report on the stock in the last year is $43.83.

A number of research analysts have recently issued reports on GLBE shares. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of Global-E Online in a research report on Monday, April 1st. Needham & Company LLC reissued a “buy” rating and set a $48.00 target price on shares of Global-E Online in a research report on Tuesday. JMP Securities reissued a “market outperform” rating and set a $46.00 target price on shares of Global-E Online in a research report on Tuesday. Benchmark reissued a “buy” rating and set a $41.00 target price on shares of Global-E Online in a research report on Tuesday. Finally, Bank of America boosted their target price on shares of Global-E Online from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday.

Institutional Trading of Global-E Online

Several institutional investors and hedge funds have recently bought and sold shares of GLBE. Capital World Investors lifted its stake in Global-E Online by 581.5% during the 4th quarter. Capital World Investors now owns 3,105,532 shares of the company’s stock valued at $123,072,000 after acquiring an additional 2,649,873 shares during the period. Morgan Stanley lifted its stake in Global-E Online by 18.2% during the 3rd quarter. Morgan Stanley now owns 15,827,478 shares of the company’s stock valued at $628,984,000 after acquiring an additional 2,438,737 shares during the period. Brown Capital Management LLC acquired a new stake in Global-E Online during the 1st quarter valued at approximately $69,352,000. Contour Asset Management LLC acquired a new position in shares of Global-E Online in the 4th quarter valued at $57,816,000. Finally, Invesco Ltd. boosted its holdings in Global-E Online by 198.4% during the third quarter. Invesco Ltd. now owns 1,566,885 shares of the company’s stock worth $62,268,000 after buying an additional 1,041,746 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-E Online Stock Performance

NASDAQ GLBE opened at $29.45 on Friday. The company’s 50-day simple moving average is $33.40 and its two-hundred day simple moving average is $35.65. Global-E Online has a one year low of $27.30 and a one year high of $45.72. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of -39.80 and a beta of 1.13.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings data on Monday, May 20th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04. Global-E Online had a negative net margin of 20.52% and a negative return on equity of 18.05%. The firm had revenue of $145.90 million for the quarter, compared to the consensus estimate of $141.55 million. During the same quarter in the previous year, the firm earned ($0.26) EPS. The company’s quarterly revenue was up 24.1% compared to the same quarter last year. Equities analysts expect that Global-E Online will post -0.44 earnings per share for the current fiscal year.

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.