Global-E Online Ltd. (NASDAQ:GLBE) Receives $42.82 Consensus Target Price from Analysts

Shares of Global-E Online Ltd. (NASDAQ:GLBE) have earned an average rating of “Buy” from the eleven research firms that are currently covering the company, Marketbeat reports. Eleven analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $42.82.

Several brokerages have commented on GLBE. Piper Sandler lowered their price objective on Global-E Online from $47.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. KeyCorp lowered their price target on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Bank of America decreased their target price on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Morgan Stanley boosted their price target on Global-E Online from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, JMP Securities reaffirmed 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.

Global-E Online Trading Down 2.0 %

Shares of GLBE opened at $37.34 on Thursday. Global-E Online has a 1-year low of $27.30 and a 1-year high of $42.88. The firm’s 50-day moving average price is $34.69 and its 200-day moving average price is $33.82. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of -50.46 and a beta of 1.09.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.03. Global-E Online had a negative return on equity of 16.41% and a negative net margin of 17.33%. The business had revenue of $168.00 million for the quarter, compared to analysts’ expectations of $165.95 million. During the same period in the previous year, the firm posted ($0.22) EPS. The business’s revenue was up 26.0% on a year-over-year basis. On average, research analysts forecast that Global-E Online will post -0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Global-E Online

Several institutional investors have recently modified their holdings of the business. Toronto Dominion Bank purchased a new position in Global-E Online in the 2nd quarter worth about $40,000. RiverPark Advisors LLC raised its holdings in shares of Global-E Online by 360.9% during the first quarter. RiverPark Advisors LLC now owns 3,650 shares of the company’s stock valued at $133,000 after purchasing an additional 2,858 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in Global-E Online during the fourth quarter valued at approximately $141,000. DekaBank Deutsche Girozentrale boosted its holdings in Global-E Online by 18.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after purchasing an additional 624 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Global-E Online by 15.2% in the 1st quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock worth $215,000 after purchasing an additional 780 shares during the period. 94.60% of the stock is owned by hedge funds and other institutional investors.

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.