Global-E Online (NASDAQ:GLBE) Shares Gap Down to $33.38

Global-E Online Ltd. (NASDAQ:GLBE) shares gapped down prior to trading on Wednesday . The stock had previously closed at $33.38, but opened at $30.69. Global-E Online shares last traded at $30.47, with a volume of 394,167 shares.

Wall Street Analysts Forecast Growth

GLBE has been the topic of several recent research reports. Benchmark reaffirmed a “buy” rating and set a $41.00 target price on shares of Global-E Online in a report on Tuesday, May 21st. Piper Sandler reduced their price objective on Global-E Online from $50.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. JMP Securities reissued a “market outperform” rating and issued a $46.00 target price on shares of Global-E Online in a research note on Wednesday, July 10th. The Goldman Sachs Group restated a “buy” rating and set a $43.00 price target on shares of Global-E Online in a research report on Monday, July 1st. Finally, Bank of America boosted their price objective on Global-E Online from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Global-E Online presently has an average rating of “Buy” and an average price target of $43.45.

Global-E Online Stock Down 5.8 %

The stock’s fifty day simple moving average is $33.80 and its two-hundred day simple moving average is $34.21. The firm has a market cap of $5.17 billion, a PE ratio of -42.81 and a beta of 1.10.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings results on Monday, May 20th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.04. The company had revenue of $145.90 million for the quarter, compared to the consensus estimate of $141.55 million. Global-E Online had a negative return on equity of 18.05% and a negative net margin of 20.52%. The firm’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.26) EPS. On average, equities research analysts anticipate that Global-E Online Ltd. will post -0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

Several institutional investors and hedge funds have recently modified their holdings of the stock. Lombard Odier Asset Management USA Corp grew its holdings in shares of Global-E Online by 6.2% during the second quarter. Lombard Odier Asset Management USA Corp now owns 10,782 shares of the company’s stock valued at $391,000 after buying an additional 632 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in Global-E Online by 7.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 41,950 shares of the company’s stock valued at $1,522,000 after purchasing an additional 2,862 shares during the last quarter. Hood River Capital Management LLC bought a new stake in shares of Global-E Online in the 2nd quarter worth $36,182,000. ProShare Advisors LLC raised its stake in shares of Global-E Online by 8.6% in the second quarter. ProShare Advisors LLC now owns 67,017 shares of the company’s stock worth $2,431,000 after purchasing an additional 5,293 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Global-E Online by 30.0% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,490 shares of the company’s stock valued at $59,464,000 after purchasing an additional 378,827 shares in the last quarter. 94.60% of the stock is currently 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.