Needham & Company LLC Issues Positive Forecast for Global-E Online (NASDAQ:GLBE) Stock Price

Global-E Online (NASDAQ:GLBE) had its price target lifted by Needham & Company LLC from $55.00 to $64.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently commented on GLBE. Benchmark boosted their target price on Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 18th. The Goldman Sachs Group raised their target price on Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a report on Friday, January 10th. JMP Securities raised their price objective on Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a research note on Thursday, November 21st. Morgan Stanley upped their price objective on shares of Global-E Online from $52.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Wells Fargo & Company increased their price target on shares of Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.67.

Global-E Online Stock Down 17.8 %

NASDAQ:GLBE opened at $50.90 on Wednesday. Global-E Online has a 1-year low of $28.11 and a 1-year high of $63.69. The stock has a fifty day simple moving average of $56.90 and a 200 day simple moving average of $45.55. The firm has a market capitalization of $8.36 billion, a price-to-earnings ratio of -87.76, a price-to-earnings-growth ratio of 6.47 and a beta of 1.23.

Global-E Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. The business had revenue of $262.91 million during the quarter, compared to analysts’ expectations of $250.96 million. Global-E Online had a negative return on equity of 15.05% and a negative net margin of 14.68%. Global-E Online’s revenue was up 41.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 earnings per share. Equities analysts predict that Global-E Online will post -0.47 earnings per share for the current year.

Institutional Trading of Global-E Online

Several hedge funds have recently modified their holdings of GLBE. PharVision Advisers LLC acquired a new position in Global-E Online during the 4th quarter worth about $356,000. USS Investment Management Ltd acquired a new stake in shares of Global-E Online in the 4th quarter valued at approximately $3,336,000. Voloridge Investment Management LLC bought a new stake in shares of Global-E Online in the 4th quarter valued at $14,319,000. Whitebark Investors LP bought a new position in Global-E Online in the fourth quarter valued at approximately $17,023,000. Finally, Sphera Management Technology Funds Ltd acquired a new stake in shares of Global-E Online in the 4th quarter valued at about $1,636,000. Institutional investors and hedge funds 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.