Global-E Online (NASDAQ:GLBE) Price Target Cut to $64.00 by Analysts at UBS Group

Global-E Online (NASDAQ:GLBE) had its target price dropped by UBS Group from $68.00 to $64.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target indicates a potential upside of 42.00% from the company’s previous close.

A number of other research firms also recently issued reports on GLBE. Piper Sandler lifted their price objective on shares of Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Wells Fargo & Company lifted their price objective on shares of Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. The Goldman Sachs Group lifted their price objective on shares of Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Morgan Stanley lifted 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, February 18th. Finally, KeyCorp boosted their price target on shares of Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.58.

Global-E Online Price Performance

Shares of NASDAQ:GLBE opened at $45.07 on Friday. The firm has a fifty day moving average price of $56.49 and a two-hundred day moving average price of $45.75. Global-E Online has a one year low of $28.11 and a one year 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 4.61 and a beta of 1.23.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings data 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 8.56%. The company had revenue of $262.91 million during the quarter, compared to the consensus estimate of $250.96 million. During the same period in the previous year, the firm posted $0.22 EPS. The firm’s revenue was up 41.8% compared to the same quarter last year. Equities research analysts expect that Global-E Online will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

A number of hedge funds have recently modified their holdings of GLBE. Fifth Third Bancorp increased its position in shares of Global-E Online by 69.1% in the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after acquiring an additional 197 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Global-E Online in the third quarter valued at about $32,000. Geneos Wealth Management Inc. increased its position in shares of Global-E Online by 1,968.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after acquiring an additional 748 shares during the period. Arcadia Investment Management Corp MI purchased a new position in shares of Global-E Online in the fourth quarter valued at about $59,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of Global-E Online in the fourth quarter valued at about $65,000. Hedge funds and other institutional investors 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.