Global-E Online Ltd. (NASDAQ:GLBE) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Global-E Online Ltd. (NASDAQ:GLBE) have received a consensus rating of “Moderate Buy” from the eleven analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $43.09.

GLBE has been the topic of several recent research reports. Piper Sandler reaffirmed a “buy” rating on shares of Global-E Online in a report on Friday, October 18th. KeyCorp decreased their target price on Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. UBS Group decreased their target price on Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a research report on Thursday, August 15th. Finally, Bank of America decreased their target price on Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 15th.

Global-E Online Price Performance

Global-E Online stock opened at $41.02 on Friday. The stock’s fifty day moving average price is $38.00 and its two-hundred day moving average price is $34.72. Global-E Online has a one year low of $27.30 and a one year high of $43.52. The firm has a market cap of $6.74 billion, a PE ratio of -63.11 and a beta of 1.10.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.03. The company had revenue of $168.00 million for the quarter, compared to analyst estimates of $165.95 million. Global-E Online had a negative return on equity of 16.41% and a negative net margin of 17.33%. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.22) EPS. Sell-side analysts expect that Global-E Online will post -0.5 earnings per share for the current fiscal year.

Institutional Trading of Global-E Online

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc increased its holdings in Global-E Online by 4.4% during the 3rd quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock worth $362,000 after purchasing an additional 393 shares in the last quarter. American International Group Inc. grew its holdings in shares of Global-E Online by 3.2% in the first quarter. American International Group Inc. now owns 15,619 shares of the company’s stock valued at $568,000 after acquiring an additional 484 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Global-E Online by 7.4% in the second quarter. Daiwa Securities Group Inc. now owns 7,300 shares of the company’s stock valued at $265,000 after acquiring an additional 500 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Global-E Online by 1.6% in the third quarter. Van ECK Associates Corp now owns 32,828 shares of the company’s stock valued at $1,235,000 after acquiring an additional 508 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Global-E Online by 18.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after acquiring an additional 624 shares in the last quarter. 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.