Global-e Online (NASDAQ:GLBE) Price Target Cut to $40.00

Global-e Online (NASDAQ:GLBE) had its target price reduced by KeyCorp from $42.00 to $40.00 in a report released on Thursday morning, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other research analysts have also weighed in on GLBE. Jefferies Financial Group raised their price target on shares of Global-e Online from $40.00 to $45.00 in a research report on Tuesday, August 8th. Raymond James lowered their price objective on shares of Global-e Online from $45.00 to $41.00 and set an outperform rating on the stock in a research report on Thursday. Piper Sandler lowered their price objective on shares of Global-e Online from $47.00 to $45.00 and set an overweight rating on the stock in a research report on Wednesday, November 15th. Needham & Company LLC reaffirmed a buy rating and issued a $48.00 price objective on shares of Global-e Online in a research report on Thursday. Finally, UBS Group began coverage on shares of Global-e Online in a research report on Friday, September 22nd. They issued a buy rating and a $50.00 price objective on the stock. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $41.50.

Global-e Online Price Performance

GLBE opened at $30.52 on Thursday. The company’s 50-day moving average is $36.39 and its 200 day moving average is $37.56. Global-e Online has a fifty-two week low of $18.14 and a fifty-two week high of $45.72. The firm has a market capitalization of $5.01 billion, a P/E ratio of -35.49 and a beta of 1.34.

Global-e Online (NASDAQ:GLBE) last released its quarterly earnings results on Wednesday, November 15th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. Global-e Online had a negative net margin of 26.73% and a negative return on equity of 15.08%. The company had revenue of $133.60 million for the quarter, compared to analyst estimates of $140.93 million. During the same period last year, the firm earned ($0.41) earnings per share. The firm’s revenue was up 26.5% on a year-over-year basis. On average, equities research analysts expect that Global-e Online will post -0.89 earnings per share for the current year.

Institutional Trading of Global-e Online

Several hedge funds and other institutional investors have recently modified their holdings of GLBE. Raymond James Financial Services Advisors Inc. raised its position in shares of Global-e Online by 11.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 35,437 shares of the company’s stock valued at $1,197,000 after purchasing an additional 3,521 shares during the period. Dimensional Fund Advisors LP bought a new stake in shares of Global-e Online in the first quarter valued at approximately $688,000. Sei Investments Co. raised its position in shares of Global-e Online by 59.7% in the first quarter. Sei Investments Co. now owns 235,873 shares of the company’s stock valued at $7,968,000 after purchasing an additional 88,194 shares during the period. Vanguard Group Inc. grew its stake in Global-e Online by 3.0% during the first quarter. Vanguard Group Inc. now owns 19,918 shares of the company’s stock valued at $673,000 after acquiring an additional 571 shares in the last quarter. Finally, Parkwood LLC grew its stake in Global-e Online by 110.7% during the first quarter. Parkwood LLC now owns 22,531 shares of the company’s stock valued at $761,000 after acquiring an additional 11,840 shares in the last quarter. Institutional investors own 59.23% of the company’s stock.

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.