Raymond James Financial Inc. Takes $2.87 Million Position in Global-E Online Ltd. (NASDAQ:GLBE)

Raymond James Financial Inc. bought a new stake in Global-E Online Ltd. (NASDAQ:GLBE) during the fourth quarter, HoldingsChannel.com reports. The fund bought 52,600 shares of the company’s stock, valued at approximately $2,868,000.

Several other hedge funds have also bought and sold shares of GLBE. Fifth Third Bancorp raised its stake in 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 buying an additional 197 shares during the period. Daiwa Securities Group Inc. raised its stake in Global-E Online by 2.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock valued at $436,000 after acquiring an additional 200 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Global-E Online by 1.6% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company’s stock valued at $908,000 after purchasing an additional 260 shares during the last quarter. Juncture Wealth Strategies LLC boosted its position in Global-E Online by 3.9% during the fourth quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company’s stock worth $718,000 after purchasing an additional 494 shares during the period. Finally, Clay Northam Wealth Management LLC increased its holdings in shares of Global-E Online by 3.0% in the fourth quarter. Clay Northam Wealth Management LLC now owns 23,030 shares of the company’s stock valued at $1,256,000 after purchasing an additional 675 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GLBE. UBS Group cut their target price on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Piper Sandler reduced their price objective on Global-E Online from $62.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. KeyCorp dropped their price target on Global-E Online from $60.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Benchmark decreased their price objective on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Finally, Needham & Company LLC dropped their price objective on shares of Global-E Online from $64.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $51.33.

Global-E Online Price Performance

Shares of GLBE opened at $35.76 on Tuesday. The firm has a 50 day simple moving average of $36.70 and a two-hundred day simple moving average of $46.00. The company has a market cap of $6.05 billion, a P/E ratio of -81.27, a P/E/G ratio of 4.61 and a beta of 1.36. Global-E Online Ltd. has a one year low of $26.64 and a one year high of $63.69.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share 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 the consensus estimate of $250.96 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. Global-E Online’s revenue for the quarter was up 41.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 EPS. On average, analysts expect that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal year.

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.