Global-E Online (NASDAQ:GLBE) Shares Gap Down – Here’s What Happened

Global-E Online Ltd. (NASDAQ:GLBE)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $61.90, but opened at $56.36. Global-E Online shares last traded at $53.10, with a volume of 595,996 shares.

Analyst Upgrades and Downgrades

GLBE has been the topic of several recent research reports. The Goldman Sachs Group upped their price target on Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Wells Fargo & Company upped their price target on shares of Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. JMP Securities raised their price objective on shares of Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a research note on Thursday, November 21st. Piper Sandler upped their target price on shares of Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Morgan Stanley raised their price target on shares of Global-E Online from $52.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Global-E Online currently has a consensus rating of “Moderate Buy” and an average price target of $55.33.

Global-E Online Stock Performance

The company’s 50-day moving average price is $56.99 and its 200 day moving average price is $45.51. The stock has a market capitalization of $8.50 billion, a P/E ratio of -89.40, a P/E/G ratio of 6.47 and a beta of 1.23.

Institutional Investors Weigh In On Global-E Online

Institutional investors and hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp grew its position in shares of Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Global-E Online in the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. grew its holdings in Global-E Online by 1,968.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after buying an additional 748 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Global-E Online during the fourth quarter valued at approximately $59,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of Global-E Online in the fourth quarter worth $65,000. 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.