Global-E Online Ltd. (NASDAQ:GLBE) Receives $42.82 Average Price Target from Brokerages

Shares of Global-E Online Ltd. (NASDAQ:GLBE) have earned a consensus rating of “Buy” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Eleven analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $42.82.

GLBE has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on shares of Global-E Online from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Bank of America dropped their price objective on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. JMP Securities restated a “market outperform” rating and issued a $46.00 target price on shares of Global-E Online in a research note on Wednesday, July 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a research report on Thursday, August 15th. Finally, KeyCorp reduced their price objective on Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th.

Hedge Funds Weigh In On Global-E Online

A number of hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank bought a new position in shares of Global-E Online during the second quarter valued at about $40,000. Global Retirement Partners LLC boosted its stake in shares of Global-E Online by 31.2% in the 1st quarter. Global Retirement Partners LLC now owns 1,650 shares of the company’s stock worth $60,000 after buying an additional 392 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in shares of Global-E Online in the fourth quarter valued at approximately $141,000. RiverPark Advisors LLC increased its position in shares of Global-E Online by 360.9% during the first quarter. RiverPark Advisors LLC now owns 3,650 shares of the company’s stock valued at $133,000 after acquiring an additional 2,858 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Global-E Online by 18.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after acquiring an additional 624 shares during the period. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-E Online Price Performance

Shares of NASDAQ GLBE opened at $33.76 on Friday. The company has a market capitalization of $5.55 billion, a PE ratio of -45.62 and a beta of 1.10. Global-E Online has a twelve month low of $27.30 and a twelve month high of $42.88. The firm has a fifty day simple moving average of $34.53 and a 200 day simple moving average of $33.84.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.03. Global-E Online had a negative return on equity of 18.05% and a negative net margin of 20.52%. The firm had revenue of $168.00 million during the quarter, compared to analyst estimates of $165.95 million. During the same period last year, the company posted ($0.22) EPS. The business’s quarterly revenue was up 26.0% on a year-over-year basis. As a group, equities analysts expect that Global-E Online will post -0.53 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.