Global-E Online (NASDAQ:GLBE) Price Target Lowered to $45.00 at Bank of America

Global-E Online (NASDAQ:GLBE) had its price objective reduced by Bank of America from $47.00 to $45.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. Piper Sandler dropped their price target on shares of Global-E Online from $47.00 to $44.00 and set an overweight rating for the company in a research note on Thursday. Benchmark reissued a buy rating and set a $41.00 target price on shares of Global-E Online in a research note on Tuesday, May 21st. Morgan Stanley increased their price target on Global-E Online from $37.00 to $40.00 and gave the company an overweight rating in a research report on Tuesday, July 16th. JMP Securities reissued a market outperform rating and set a $46.00 price objective on shares of Global-E Online in a research report on Wednesday, July 10th. Finally, Needham & Company LLC restated a buy rating and set a $48.00 target price on shares of Global-E Online in a research note on Thursday. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of Buy and a consensus price target of $42.82.

Global-E Online Trading Up 7.0 %

GLBE traded up $2.25 during mid-day trading on Thursday, hitting $34.53. 922,114 shares of the stock were exchanged, compared to its average volume of 1,177,455. The company has a market cap of $5.67 billion, a PE ratio of -47.05 and a beta of 1.10. The firm’s fifty day moving average is $33.86 and its two-hundred day moving average is $34.18. Global-E Online has a 1-year low of $27.30 and a 1-year high of $42.88.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. The business had revenue of $168.00 million for the quarter, compared to analysts’ expectations of $165.95 million. Global-E Online had a negative net margin of 20.52% and a negative return on equity of 18.05%. The business’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.22) earnings per share. As a group, research analysts anticipate that Global-E Online will post -0.53 earnings per share for the current year.

Institutional Trading of Global-E Online

Several institutional investors have recently modified their holdings of GLBE. Mackenzie Financial Corp acquired a new stake in Global-E Online during the 2nd quarter worth $250,000. The Manufacturers Life Insurance Company boosted its stake in Global-E Online by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 36,359 shares of the company’s stock valued at $1,319,000 after acquiring an additional 900 shares in the last quarter. Dragoneer Investment Group LLC grew its holdings in shares of Global-E Online by 9.6% during the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock worth $534,403,000 after purchasing an additional 1,288,829 shares during the last quarter. APG Asset Management N.V. acquired a new stake in shares of Global-E Online during the second quarter worth about $353,000. Finally, Toronto Dominion Bank purchased a new stake in shares of Global-E Online in the 2nd quarter valued at about $40,000. Hedge funds and other 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.