Needham & Company LLC reiterated their buy rating on shares of Global-e Online (NASDAQ:GLBE – Free Report) in a research report released on Thursday, Benzinga reports. Needham & Company LLC currently has a $48.00 target price on the stock.
Other equities research analysts have also recently issued research reports about the company. Piper Sandler decreased their price objective on Global-e Online from $47.00 to $45.00 and set an overweight rating on the stock in a report on Wednesday, November 15th. Raymond James decreased their price objective on Global-e Online from $45.00 to $41.00 and set an outperform rating on the stock in a report on Thursday. The Goldman Sachs Group decreased their price objective on Global-e Online from $50.00 to $44.00 and set a buy rating on the stock in a report on Wednesday, August 9th. UBS Group began coverage on Global-e Online in a report on Friday, September 22nd. They issued a buy rating and a $50.00 target price on the stock. Finally, KeyCorp lifted their target price on Global-e Online from $40.00 to $42.00 and gave the company an overweight rating in a report on Wednesday, August 9th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Global-e Online presently has a consensus rating of Moderate Buy and an average target price of $41.50.
Global-e Online Price Performance
Global-e Online (NASDAQ:GLBE – Get Free Report) last released its quarterly earnings results on Wednesday, November 15th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.04. The company had revenue of $133.60 million during the quarter, compared to the consensus estimate of $140.93 million. Global-e Online had a negative return on equity of 15.08% and a negative net margin of 26.73%. Global-e Online’s revenue was up 26.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.41) earnings per share. On average, research analysts expect that Global-e Online will post -0.89 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Global-e Online
Several hedge funds and other institutional investors have recently made changes to their positions in GLBE. Stratos Wealth Partners LTD. acquired a new stake in Global-e Online in the second quarter worth approximately $205,000. SG Americas Securities LLC increased its holdings in shares of Global-e Online by 0.6% in the first quarter. SG Americas Securities LLC now owns 72,959 shares of the company’s stock valued at $2,351,000 after buying an additional 419 shares in the last quarter. Meitav Investment House Ltd. increased its holdings in shares of Global-e Online by 12.7% in the second quarter. Meitav Investment House Ltd. now owns 522,928 shares of the company’s stock valued at $21,132,000 after buying an additional 59,028 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Global-e Online by 0.3% in the second quarter. Artisan Partners Limited Partnership now owns 3,458,507 shares of the company’s stock valued at $141,591,000 after buying an additional 8,905 shares in the last quarter. Finally, Malaga Cove Capital LLC bought a new position in shares of Global-e Online in the second quarter valued at $239,000. 59.23% of the stock is currently owned by institutional investors and hedge funds.
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.
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