Benchmark Has Lowered Expectations for Global-E Online (NASDAQ:GLBE) Stock Price

Global-E Online (NASDAQ:GLBE) had its price target decreased by stock analysts at Benchmark from $68.00 to $64.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price objective would suggest a potential upside of 42.00% from the company’s current price.

GLBE has been the topic of a number of other reports. JMP Securities increased their price target on shares of Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a report on Thursday, November 21st. Piper Sandler upped their price objective on shares of Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company upped their price objective on shares of Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Jefferies Financial Group upped their price objective on shares of Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, 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 research report on Tuesday. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.58.

Global-E Online Trading Down 3.3 %

Shares of Global-E Online stock opened at $45.07 on Thursday. Global-E Online has a 12-month low of $28.11 and a 12-month high of $63.69. The company has a market cap of $7.40 billion, a price-to-earnings ratio of -102.43, a PEG ratio of 5.03 and a beta of 1.23. The company’s 50-day moving average price is $56.49 and its 200-day moving average price is $45.65.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.60%. The firm had revenue of $262.91 million for the quarter, compared to the consensus estimate of $250.96 million. During the same period in the prior year, the firm posted $0.22 earnings per share. The company’s revenue for the quarter was up 41.8% on a year-over-year basis. On average, sell-side analysts predict that Global-E Online will post 0.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GLBE. Fifth Third Bancorp raised its stake in shares of Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after acquiring an additional 197 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Global-E Online during the third quarter worth approximately $32,000. Geneos Wealth Management Inc. raised its stake in shares of Global-E Online by 1,968.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after acquiring an additional 748 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Global-E Online during the fourth quarter worth approximately $59,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of Global-E Online during the fourth quarter worth approximately $65,000. 94.60% of the stock is 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.