Global-e Online (NASDAQ:GLBE) Downgraded by Truist Financial to “Sell”

Global-e Online (NASDAQ:GLBE) was downgraded by Truist Financial from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, MarketBeat reports.

Several other equities analysts also recently commented on GLBE. The Goldman Sachs Group upped their price target on shares of Global-e Online from $39.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Global-e Online in a report on Monday. Benchmark restated a “buy” rating on shares of Global-e Online in a research report on Monday, November 17th. Needham & Company LLC lifted their price target on shares of Global-e Online from $40.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Finally, Piper Sandler boosted their price target on Global-e Online from $42.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Global-e Online has an average rating of “Moderate Buy” and an average target price of $49.91.

Global-e Online Trading Up 0.4%

Global-e Online stock opened at $39.10 on Thursday. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 1,297.37 and a beta of 1.24. Global-e Online has a 12 month low of $26.64 and a 12 month high of $63.69. The stock’s 50 day moving average is $36.46 and its 200-day moving average is $34.64.

Global-e Online (NASDAQ:GLBE) last released its quarterly earnings results on Wednesday, November 19th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. Global-e Online had a return on equity of 0.81% and a net margin of 0.82%.The business had revenue of $220.78 million during the quarter, compared to the consensus estimate of $217.95 million. During the same period in the previous year, the company posted ($0.13) EPS. The firm’s quarterly revenue was up 25.5% on a year-over-year basis. As a group, equities research analysts predict that Global-e Online will post 0.25 earnings per share for the current fiscal year.

Global-e Online declared that its Board of Directors has approved a stock repurchase plan on Thursday, September 4th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to purchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc increased its stake in shares of Global-e Online by 73.3% in the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after acquiring an additional 448 shares in the last quarter. Main Management ETF Advisors LLC boosted its stake in Global-e Online by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 30,053 shares of the company’s stock worth $1,008,000 after acquiring an additional 492 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Global-e Online by 67.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after purchasing an additional 528 shares during the period. Sterling Investment Advisors Ltd. increased its stake in Global-e Online by 1.1% in the second quarter. Sterling Investment Advisors Ltd. now owns 55,500 shares of the company’s stock valued at $1,861,000 after purchasing an additional 600 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Global-e Online by 28.2% in the third quarter. PNC Financial Services Group Inc. now owns 2,954 shares of the company’s stock valued at $106,000 after purchasing an additional 649 shares in the last quarter. 94.60% of the stock is owned by institutional investors.

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.