UBS Group Lowers Global-E Online (NASDAQ:GLBE) Price Target to $48.00

Global-E Online (NASDAQ:GLBE) had its price target lowered by UBS Group from $50.00 to $48.00 in a research note issued to investors on Friday morning, Marketbeat reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also commented on GLBE. Piper Sandler decreased their price objective on Global-E Online from $47.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. The Goldman Sachs Group reiterated a “buy” rating and issued a $43.00 price objective on shares of Global-E Online in a research report on Monday, July 1st. Bank of America dropped their price objective on Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, August 15th. KeyCorp reduced their target price on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Finally, Morgan Stanley downgraded shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price target for the company. in a research note on Friday. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.09.

Global-E Online Stock Up 1.2 %

Shares of NASDAQ GLBE opened at $38.11 on Friday. Global-E Online has a 12-month low of $27.30 and a 12-month high of $42.88. The firm’s 50-day simple moving average is $35.93 and its 200 day simple moving average is $34.03. The company has a market cap of $6.26 billion, a price-to-earnings ratio of -51.50 and a beta of 1.10.

Global-E Online (NASDAQ:GLBE) last announced its earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 17.33% and a negative return on equity of 16.41%. Global-E Online’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.22) earnings per share. On average, equities analysts expect that Global-E Online will post -0.5 earnings per share for the current year.

Hedge Funds Weigh In On Global-E Online

Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in Global-E Online by 5.7% during the 1st quarter. Principal Financial Group Inc. now owns 6,881 shares of the company’s stock worth $250,000 after buying an additional 369 shares during the period. American International Group Inc. raised its position in shares of Global-E Online by 3.2% during the first quarter. American International Group Inc. now owns 15,619 shares of the company’s stock worth $568,000 after purchasing an additional 484 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Global-E Online by 7.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 7,300 shares of the company’s stock valued at $265,000 after purchasing an additional 500 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Global-E Online by 6.5% in the 2nd quarter. CIBC Asset Management Inc now owns 9,027 shares of the company’s stock valued at $327,000 after purchasing an additional 547 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its stake in Global-E Online by 18.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after purchasing an additional 624 shares in the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.

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.