Global-E Online Ltd. (NASDAQ:GLBE) Receives $49.42 Consensus Target Price from Analysts

Global-E Online Ltd. (NASDAQ:GLBE) has been given a consensus recommendation of “Buy” by the twelve research firms that are covering the firm, Marketbeat reports. Twelve analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $49.42.

GLBE has been the topic of several research analyst reports. Morgan Stanley raised shares of Global-E Online from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $55.00 to $46.00 in a research note on Wednesday, March 26th. Piper Sandler restated an “overweight” rating and set a $42.00 price objective on shares of Global-E Online in a report on Wednesday, May 14th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of Global-E Online in a report on Thursday, May 15th. Raymond James lowered their target price on shares of Global-E Online from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, May 15th. Finally, KeyCorp lowered their target price on shares of Global-E Online from $60.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd.

Hedge Funds Weigh In On Global-E Online

A number of large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its position in shares of Global-E Online by 6.9% in the first quarter. Goldman Sachs Group Inc. now owns 4,769,843 shares of the company’s stock valued at $170,045,000 after acquiring an additional 308,218 shares during the period. Fred Alger Management LLC boosted its position in shares of Global-E Online by 204.6% in the fourth quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company’s stock valued at $231,178,000 after acquiring an additional 2,847,868 shares during the period. Contour Asset Management LLC boosted its position in shares of Global-E Online by 17.8% in the first quarter. Contour Asset Management LLC now owns 3,119,286 shares of the company’s stock valued at $111,203,000 after acquiring an additional 472,380 shares during the period. Clearbridge Investments LLC boosted its position in shares of Global-E Online by 1.5% in the fourth quarter. Clearbridge Investments LLC now owns 2,268,618 shares of the company’s stock valued at $123,708,000 after acquiring an additional 34,391 shares during the period. Finally, Spyglass Capital Management LLC boosted its position in shares of Global-E Online by 6.8% in the fourth quarter. Spyglass Capital Management LLC now owns 1,487,335 shares of the company’s stock valued at $81,104,000 after acquiring an additional 94,664 shares during the period. 94.60% of the stock is currently owned by institutional investors.

Global-E Online Stock Down 0.2%

Shares of NASDAQ:GLBE opened at $31.40 on Tuesday. The firm has a market cap of $5.33 billion, a P/E ratio of -71.36, a P/E/G ratio of 4.61 and a beta of 1.36. Global-E Online has a 12-month low of $26.64 and a 12-month high of $63.69. The business has a fifty day simple moving average of $34.37 and a 200 day simple moving average of $45.28.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) 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 $189.88 million for the quarter, compared to analyst estimates of $187.84 million. During the same period in the prior year, the firm posted ($0.19) EPS. The company’s quarterly revenue was up 30.2% on a year-over-year basis. As a group, equities research analysts expect that Global-E Online will post 0.25 EPS for the current year.

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.