Global-E Online (NASDAQ:GLBE) Rating Reiterated by JMP Securities

JMP Securities reiterated their market outperform rating on shares of Global-E Online (NASDAQ:GLBE) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $46.00 price objective on the stock.

A number of other research analysts have also recently commented on GLBE. Bank of America increased their price target on shares of Global-E Online from $46.00 to $47.00 and gave the company a buy rating in a research report on Tuesday, May 21st. The Goldman Sachs Group reiterated a buy rating and issued a $43.00 target price on shares of Global-E Online in a research report on Monday, July 1st. Wells Fargo & Company restated an overweight rating and set a $40.00 price target on shares of Global-E Online in a research report on Monday, April 1st. Needham & Company LLC reissued a buy rating and issued a $48.00 target price on shares of Global-E Online in a research note on Tuesday, May 21st. Finally, Benchmark restated a buy rating and set a $41.00 price target on shares of Global-E Online in a research report on Tuesday, May 21st. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of Buy and a consensus target price of $43.33.

Global-E Online Stock Performance

Global-E Online stock opened at $36.81 on Wednesday. Global-E Online has a fifty-two week low of $27.30 and a fifty-two week high of $45.72. The firm’s fifty day moving average price is $32.12 and its 200-day moving average price is $34.97. The stock has a market cap of $6.05 billion, a P/E ratio of -49.74 and a beta of 1.10.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Monday, May 20th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.04. The firm had revenue of $145.90 million during the quarter, compared to analyst estimates of $141.55 million. Global-E Online had a negative return on equity of 18.05% and a negative net margin of 20.52%. The company’s revenue was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.26) earnings per share. On average, analysts predict that Global-E Online will post -0.52 earnings per share for the current year.

Institutional Investors Weigh In On Global-E Online

Large investors have recently made changes to their positions in the business. Global Retirement Partners LLC raised its holdings in shares of Global-E Online by 31.2% during the first quarter. Global Retirement Partners LLC now owns 1,650 shares of the company’s stock valued at $60,000 after acquiring an additional 392 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in Global-E Online in the 4th quarter worth $141,000. RiverPark Advisors LLC lifted its position in shares of Global-E Online by 360.9% in the 1st quarter. RiverPark Advisors LLC now owns 3,650 shares of the company’s stock worth $133,000 after purchasing an additional 2,858 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Global-E Online by 18.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after purchasing an additional 624 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Global-E Online during the 4th quarter valued at about $233,000. 94.60% of the stock is currently owned by 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.