Global-E Online Ltd. (NASDAQ:GLBE) Given Average Recommendation of “Buy” by Analysts

Global-E Online Ltd. (NASDAQ:GLBE) has been given an average recommendation of “Buy” by the eleven analysts that are currently covering the stock, MarketBeat.com reports. Eleven research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $42.82.

A number of research analysts have commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price target on shares of Global-E Online in a research report on Thursday, August 15th. 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 report on Thursday, August 15th. JMP Securities reiterated a “market outperform” rating and issued a $46.00 price target on shares of Global-E Online in a report on Wednesday, July 10th. Morgan Stanley upped their price objective on shares of Global-E Online from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $43.00 target price on shares of Global-E Online in a research note on Monday, July 1st.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GLBE. Clearbridge Investments LLC bought a new stake in shares of Global-E Online during the second quarter valued at approximately $83,036,000. Brown Capital Management LLC purchased a new stake in Global-E Online during the 1st quarter valued at $69,352,000. Capital World Investors raised its stake in shares of Global-E Online by 60.5% in the first quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock worth $181,150,000 after purchasing an additional 1,877,953 shares during the last quarter. Dragoneer Investment Group LLC raised its stake in shares of Global-E Online by 9.6% in the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock worth $534,403,000 after purchasing an additional 1,288,829 shares during the last quarter. Finally, Hood River Capital Management LLC bought a new position in shares of Global-E Online during the second quarter valued at $36,182,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-E Online Stock Performance

Shares of Global-E Online stock opened at $38.10 on Monday. Global-E Online has a 52-week low of $27.30 and a 52-week high of $42.88. The company’s 50 day moving average price is $35.43 and its 200-day moving average price is $33.96. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of -51.49 and a beta of 1.10.

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

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.