Raymond James Lowers Global-e Online (NASDAQ:GLBE) Price Target to $41.00

Global-e Online (NASDAQ:GLBE) had its price target decreased by Raymond James from $45.00 to $41.00 in a research report sent to investors on Thursday, MarketBeat Ratings reports. Raymond James currently has an outperform rating on the stock.

GLBE has been the topic of a number of other research reports. Jefferies Financial Group increased their price target on Global-e Online from $40.00 to $45.00 in a research report on Tuesday, August 8th. KeyCorp increased their price target on Global-e Online from $40.00 to $42.00 and gave the company an overweight rating in a research report on Wednesday, August 9th. The Goldman Sachs Group decreased their target price on Global-e Online from $50.00 to $44.00 and set a buy rating for the company in a research note on Wednesday, August 9th. Needham & Company LLC boosted their target price on Global-e Online from $44.00 to $48.00 and gave the stock a buy rating in a research note on Wednesday, August 9th. Finally, Morgan Stanley decreased their target price on Global-e Online from $45.00 to $41.00 and set an equal weight rating for the company in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $41.50.

Global-e Online Price Performance

Shares of Global-e Online stock opened at $30.52 on Thursday. The business has a 50-day moving average of $36.39 and a 200 day moving average of $37.56. Global-e Online has a 12 month low of $18.14 and a 12 month high of $45.72. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of -35.49 and a beta of 1.34.

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

Institutional Investors Weigh In On Global-e Online

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC lifted its stake in Global-e Online by 11.4% in the third quarter. TimesSquare Capital Management LLC now owns 658,700 shares of the company’s stock valued at $26,177,000 after buying an additional 67,160 shares during the last quarter. Morgan Stanley increased its holdings in shares of Global-e Online by 18.2% in the third quarter. Morgan Stanley now owns 15,827,478 shares of the company’s stock valued at $628,984,000 after purchasing an additional 2,438,737 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Global-e Online in the third quarter valued at approximately $1,394,000. Rip Road Capital Partners LP acquired a new position in shares of Global-e Online in the third quarter valued at approximately $4,380,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Global-e Online by 19.1% in the third quarter. JPMorgan Chase & Co. now owns 1,675,845 shares of the company’s stock valued at $66,598,000 after purchasing an additional 268,427 shares during the period. Hedge funds and other 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.