Global-e Online Ltd. (NASDAQ:GLBE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Global-e Online Ltd. (NASDAQ:GLBE) have been given an average rating of “Moderate Buy” by the thirteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $48.00.

Several research analysts recently commented on GLBE shares. Morgan Stanley upgraded Global-e Online from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $55.00 to $46.00 in a research note on Wednesday, March 26th. KeyCorp lowered their target price 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 lowered their target price on Global-e Online from $61.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Truist Financial assumed coverage on Global-e Online in a report on Monday, June 2nd. They set a “sell” rating and a $31.00 target price for the company. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $42.00 target price on shares of Global-e Online in a report on Wednesday, May 14th.

Global-e Online Trading Down 3.2%

GLBE stock opened at $32.19 on Wednesday. The stock has a 50-day moving average price of $33.33 and a two-hundred day moving average price of $40.96. Global-e Online has a 12-month low of $26.64 and a 12-month high of $63.69. The company has a market cap of $5.46 billion, a PE ratio of -89.42, a price-to-earnings-growth ratio of 1.97 and a beta of 1.25.

Global-e Online (NASDAQ:GLBE) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The company had revenue of $189.88 million for the quarter, compared to analysts’ expectations of $187.84 million. Global-e Online had a negative return on equity of 6.96% and a negative net margin of 7.70%. The firm’s quarterly revenue was up 30.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. Equities analysts forecast that Global-e Online will post 0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Global-e Online

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio lifted its holdings in shares of Global-e Online by 39.9% in the second quarter. Public Employees Retirement System of Ohio now owns 71,819 shares of the company’s stock valued at $2,409,000 after purchasing an additional 20,500 shares in the last quarter. Annex Advisory Services LLC purchased a new stake in shares of Global-e Online in the second quarter valued at $12,190,000. Moody National Bank Trust Division purchased a new stake in shares of Global-e Online in the second quarter valued at $2,062,000. Rhumbline Advisers lifted its holdings in shares of Global-e Online by 8.1% in the first quarter. Rhumbline Advisers now owns 33,952 shares of the company’s stock valued at $1,210,000 after purchasing an additional 2,534 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Global-e Online by 67.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock valued at $47,000 after purchasing an additional 528 shares in the last quarter. 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.