Analysts Set Global-E Online Ltd. (NASDAQ:GLBE) PT at $43.00

Shares of Global-E Online Ltd. (NASDAQ:GLBE) have received a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $43.00.

Several brokerages have issued reports on GLBE. The Goldman Sachs Group lifted their target price on shares of Global-E Online from $36.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a report on Friday, April 5th. Piper Sandler reissued an “overweight” rating and issued a $50.00 target price on shares of Global-E Online in a research note on Thursday, February 22nd. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $40.00 price target on shares of Global-E Online in a research report on Monday, April 1st.

Global-E Online Stock Performance

NASDAQ GLBE opened at $33.53 on Monday. The firm has a market capitalization of $5.51 billion, a P/E ratio of -41.40 and a beta of 1.10. The stock has a 50-day simple moving average of $35.07 and a two-hundred day simple moving average of $36.26. Global-E Online has a fifty-two week low of $26.01 and a fifty-two week high of $45.72.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings results on Wednesday, February 21st. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). Global-E Online had a negative net margin of 23.48% and a negative return on equity of 19.33%. The company had revenue of $185.40 million for the quarter, compared to analysts’ expectations of $181.74 million. During the same quarter in the prior year, the business posted ($0.18) earnings per share. The firm’s revenue was up 32.5% compared to the same quarter last year. As a group, analysts forecast that Global-E Online will post -0.5 earnings per share for the current year.

Hedge Funds Weigh In On Global-E Online

A number of hedge funds have recently modified their holdings of the business. Morgan Stanley raised its position in Global-E Online by 18.2% in the third quarter. Morgan Stanley now owns 15,827,478 shares of the company’s stock valued at $628,984,000 after purchasing an additional 2,438,737 shares during the period. Capital World Investors lifted its stake in Global-E Online by 581.5% during the 4th quarter. Capital World Investors now owns 3,105,532 shares of the company’s stock worth $123,072,000 after acquiring an additional 2,649,873 shares in the last quarter. Eventide Asset Management LLC boosted its holdings in Global-E Online by 0.5% during the 4th quarter. Eventide Asset Management LLC now owns 2,464,197 shares of the company’s stock valued at $97,656,000 after acquiring an additional 13,350 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Global-E Online by 9.9% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,403,473 shares of the company’s stock valued at $95,250,000 after acquiring an additional 217,482 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. increased its stake in Global-E Online by 10.8% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,224,278 shares of the company’s stock worth $88,037,000 after purchasing an additional 217,415 shares during the period. 94.60% of the stock is currently owned by hedge funds and other 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.