Global-E Online (NASDAQ:GLBE) Shares Gap Up – What’s Next?

Global-E Online Ltd. (NASDAQ:GLBE)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $38.26, but opened at $39.49. Global-E Online shares last traded at $37.60, with a volume of 207,080 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GLBE. Benchmark lowered their price target on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 price target on shares of Global-E Online in a report on Wednesday, March 12th. Piper Sandler boosted their target price on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Morgan Stanley upgraded Global-E Online from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $55.00 to $46.00 in a research note on Wednesday. Finally, Wells Fargo & Company cut their price objective on Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $58.33.

Global-E Online Stock Performance

The stock has a 50-day moving average price of $49.81 and a two-hundred day moving average price of $46.67. The stock has a market capitalization of $6.18 billion, a PE ratio of -86.04, a PEG ratio of 4.61 and a beta of 1.30.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $262.91 million during the quarter, compared to analyst estimates of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The company’s revenue was up 41.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 earnings per share. As a group, equities analysts predict that Global-E Online Ltd. will post 0.25 earnings per share for the current year.

Institutional Investors Weigh In On Global-E Online

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Fred Alger Management LLC boosted its stake in shares of Global-E Online by 204.6% in the fourth quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company’s stock worth $231,178,000 after acquiring an additional 2,847,868 shares during the period. Contour Asset Management LLC boosted its stake in Global-E Online by 9.1% in the 4th quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company’s stock worth $144,336,000 after purchasing an additional 220,519 shares during the period. Clearbridge Investments LLC grew its holdings in Global-E Online by 1.5% during the 4th quarter. Clearbridge Investments LLC now owns 2,268,618 shares of the company’s stock valued at $123,708,000 after buying an additional 34,391 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Global-E Online by 40.7% during the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock valued at $70,979,000 after buying an additional 533,675 shares during the last quarter. Finally, Eventide Asset Management LLC lifted its holdings in shares of Global-E Online by 59.1% in the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock worth $60,091,000 after buying an additional 580,450 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.