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

Shares of Global-E Online Ltd. (NASDAQ:GLBE) have been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $43.09.

A number of research analysts have commented on the company. KeyCorp reduced their target price on Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Morgan Stanley downgraded Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 target price on the stock. in a report on Friday, October 18th. Piper Sandler reaffirmed a “buy” rating on shares of Global-E Online in a report on Friday, October 18th. UBS Group reduced their target price on Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Finally, Bank of America reduced their target price on Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 15th.

Institutional Trading of Global-E Online

Several hedge funds have recently made changes to their positions in GLBE. Clearbridge Investments LLC bought a new stake in shares of Global-E Online in the 2nd quarter worth approximately $83,036,000. Brown Capital Management LLC acquired a new stake in Global-E Online in the 1st quarter valued at approximately $69,352,000. Capital World Investors increased its position in Global-E Online by 60.5% in the 1st quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock valued at $181,150,000 after acquiring an additional 1,877,953 shares during the period. Dragoneer Investment Group LLC increased its position in Global-E Online by 9.6% in the 2nd quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after acquiring an additional 1,288,829 shares during the period. Finally, Hood River Capital Management LLC acquired a new stake in Global-E Online in the 2nd quarter valued at approximately $36,182,000. Institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Performance

Shares of GLBE opened at $39.78 on Friday. The company has a market capitalization of $6.53 billion, a P/E ratio of -61.20 and a beta of 1.10. Global-E Online has a one year low of $27.30 and a one year high of $42.88. The stock has a 50-day moving average price of $37.13 and a 200 day moving average price of $34.41.

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