Global-E Online (NASDAQ:GLBE) Trading Down 8.2% After Analyst Downgrade

Global-E Online Ltd. (NASDAQ:GLBE)’s share price fell 8.2% during mid-day trading on Thursday after Benchmark lowered their price target on the stock from $68.00 to $64.00. Benchmark currently has a buy rating on the stock. Global-E Online traded as low as $46.75 and last traded at $46.71. 2,070,770 shares changed hands during mid-day trading, an increase of 46% from the average session volume of 1,417,560 shares. The stock had previously closed at $50.90.

Several other brokerages also recently issued reports on GLBE. KeyCorp raised their price target on Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Wells Fargo & Company boosted their price target on shares of Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Jefferies Financial Group lifted their price objective on shares of Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Needham & Company LLC upped their target price on shares of Global-E Online from $55.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Piper Sandler lifted their price target on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.25.

Institutional Trading of Global-E Online

Several large investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its position in Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after buying an additional 197 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Global-E Online by 1,968.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after purchasing an additional 748 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Global-E Online during the third quarter worth approximately $32,000. Arcadia Investment Management Corp MI purchased a new position in Global-E Online during the fourth quarter valued at approximately $59,000. Finally, Whipplewood Advisors LLC acquired a new position in Global-E Online in the 4th quarter valued at approximately $65,000. 94.60% of the stock is owned by institutional investors and hedge funds.

Global-E Online Trading Down 8.2 %

The business’s 50-day simple moving average is $56.90 and its 200-day simple moving average is $45.55. The company has a market cap of $7.68 billion, a PE ratio of -80.59, a P/E/G ratio of 6.37 and a beta of 1.23.

Global-E Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Global-E Online had a negative return on equity of 15.05% and a negative net margin of 14.68%. The firm had revenue of $262.91 million for the quarter, compared to the consensus estimate of $250.96 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The business’s quarterly revenue was up 41.8% compared to the same quarter last year. On average, research analysts predict that Global-E Online Ltd. will post -0.47 earnings per share for the current fiscal 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.