Global-E Online (NASDAQ:GLBE) Shares Gap Up – What’s Next?

Global-E Online Ltd. (NASDAQ:GLBE) shares gapped up before the market opened on Wednesday . The stock had previously closed at $38.26, but opened at $39.49. Global-E Online shares last traded at $37.60, with a volume of 207,080 shares changing hands.

Analysts Set New Price Targets

GLBE has been the topic of several research analyst reports. Benchmark decreased their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Morgan Stanley raised shares of Global-E Online from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $55.00 to $46.00 in a report on Wednesday. UBS Group dropped their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a report on Friday, February 21st. The Goldman Sachs Group increased their target price on Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, KeyCorp upped their price objective on Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $58.33.

Global-E Online Trading Down 1.7 %

The stock has a 50 day simple moving average of $49.81 and a 200 day simple moving average of $46.67. The firm has a market capitalization of $6.18 billion, a PE ratio of -86.04, a PEG ratio of 4.61 and a beta of 1.30.

Global-E Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. The company had revenue of $262.91 million for the quarter, compared to the consensus estimate of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The firm’s revenue for the quarter was up 41.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 earnings per share. As a group, equities analysts anticipate that Global-E Online Ltd. will post 0.25 earnings per share for the current year.

Institutional Trading of Global-E Online

Several large investors have recently modified their holdings of GLBE. Wellington Management Group LLP raised its position in Global-E Online by 3.5% during the 4th quarter. Wellington Management Group LLP now owns 923,051 shares of the company’s stock valued at $50,334,000 after purchasing an additional 31,019 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Global-E Online during the fourth quarter valued at approximately $1,180,000. Siemens Fonds Invest GmbH purchased a new stake in Global-E Online in the fourth quarter worth $124,000. Polar Asset Management Partners Inc. bought a new stake in Global-E Online in the fourth quarter valued at $3,883,000. Finally, Mackenzie Financial Corp increased its position in Global-E Online by 7.1% during the 4th quarter. Mackenzie Financial Corp now owns 6,740 shares of the company’s stock valued at $368,000 after purchasing an additional 448 shares during the period. 94.60% of the stock is owned by institutional investors.

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.