Global-e Online (NASDAQ:GLBE) Price Target Lowered to $36.00 at The Goldman Sachs Group

Global-e Online (NASDAQ:GLBE) had its price objective lowered by The Goldman Sachs Group from $48.00 to $36.00 in a research report released on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Benchmark reduced their target price on shares of Global-e Online from $50.00 to $40.00 and set a buy rating for the company in a research report on Thursday, November 16th. Raymond James dropped their target price on Global-e Online from $45.00 to $41.00 and set an outperform rating for the company in a report on Thursday, November 16th. Piper Sandler reduced their price target on Global-e Online from $47.00 to $45.00 and set an overweight rating on the stock in a report on Wednesday, November 15th. KeyCorp dropped their price objective on shares of Global-e Online from $42.00 to $40.00 and set an overweight rating for the company in a report on Thursday, November 16th. Finally, UBS Group reduced their target price on shares of Global-e Online from $50.00 to $45.00 and set a buy rating on the stock in a research note on Thursday, November 16th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $41.50.

Global-e Online Stock Up 4.6 %

GLBE opened at $31.91 on Friday. The company has a market cap of $5.24 billion, a price-to-earnings ratio of -37.10 and a beta of 1.34. Global-e Online has a 52-week low of $18.14 and a 52-week high of $45.72. The firm’s fifty day simple moving average is $36.21 and its two-hundred day simple moving average is $37.58.

Global-e Online (NASDAQ:GLBE) last posted its quarterly earnings data on Wednesday, November 15th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.04. The business had revenue of $133.60 million for the quarter, compared to the consensus estimate of $140.93 million. Global-e Online had a negative net margin of 26.73% and a negative return on equity of 15.08%. The company’s revenue was up 26.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.41) earnings per share. On average, research analysts forecast that Global-e Online will post -0.89 EPS for the current year.

Hedge Funds Weigh In On Global-e Online

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. TimesSquare Capital Management LLC grew its stake in Global-e Online by 11.4% during the 3rd quarter. TimesSquare Capital Management LLC now owns 658,700 shares of the company’s stock worth $26,177,000 after purchasing an additional 67,160 shares in the last quarter. Morgan Stanley increased its stake in shares of Global-e Online by 18.2% during the third quarter. Morgan Stanley now owns 15,827,478 shares of the company’s stock worth $628,984,000 after buying an additional 2,438,737 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of Global-e Online in the 3rd quarter valued at approximately $1,394,000. Rip Road Capital Partners LP purchased a new stake in shares of Global-e Online during the 3rd quarter worth $4,380,000. Finally, JPMorgan Chase & Co. raised its stake in Global-e Online by 19.1% in the third quarter. JPMorgan Chase & Co. now owns 1,675,845 shares of the company’s stock valued at $66,598,000 after buying an additional 268,427 shares in the last quarter. 59.23% of the stock is currently 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.