Global-E Online (NASDAQ:GLBE) Price Target Cut to $64.00 by Analysts at Benchmark

Global-E Online (NASDAQ:GLBE) had its target price dropped by equities research analysts at Benchmark from $68.00 to $64.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price objective suggests a potential upside of 42.00% from the company’s current price.

GLBE has been the topic of several other research reports. Wells Fargo & Company lifted their price target on shares of Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. The Goldman Sachs Group lifted their price target on shares of Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a report on Friday, January 10th. Jefferies Financial Group lifted their price target on shares of Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 18th. Piper Sandler lifted their price target on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Raymond James lifted their price target on shares of Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.58.

Global-E Online Stock Down 3.3 %

Shares of NASDAQ GLBE opened at $45.07 on Thursday. Global-E Online has a 52 week low of $28.11 and a 52 week high of $63.69. The firm’s fifty day moving average is $56.49 and its 200 day moving average is $45.65. The company has a market cap of $7.40 billion, a price-to-earnings ratio of -102.43, a PEG ratio of 5.03 and a beta of 1.23.

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. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.60%. The company had revenue of $262.91 million for the quarter, compared to the consensus estimate of $250.96 million. During the same period in the previous year, the firm earned $0.22 earnings per share. The firm’s revenue for the quarter was up 41.8% on a year-over-year basis. Equities research analysts anticipate that Global-E Online will post 0.25 earnings per share for the current year.

Hedge Funds Weigh In On Global-E Online

A number of hedge funds have recently bought and sold shares of the company. Fred Alger Management LLC boosted its stake in Global-E Online by 204.6% in the 4th quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company’s stock worth $231,178,000 after purchasing an additional 2,847,868 shares in the last quarter. Contour Asset Management LLC raised its position in Global-E Online by 9.1% in the 4th quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company’s stock worth $144,336,000 after buying an additional 220,519 shares during the last quarter. Clearbridge Investments LLC raised its position in Global-E Online by 1.5% in the 4th quarter. Clearbridge Investments LLC now owns 2,268,618 shares of the company’s stock worth $123,708,000 after buying an additional 34,391 shares during the last quarter. JPMorgan Chase & Co. raised its position in Global-E Online by 40.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after buying an additional 533,675 shares during the last quarter. Finally, Eventide Asset Management LLC raised its position in Global-E Online by 59.1% in the 3rd quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock worth $60,091,000 after buying an additional 580,450 shares during the last quarter. Institutional investors 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.