Brokerages Set Global-E Online Ltd. (NASDAQ:GLBE) Target Price at $43.00

Shares of Global-E Online Ltd. (NASDAQ:GLBE) have been assigned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $43.00.

Several research analysts have weighed in on GLBE shares. Piper Sandler restated an “overweight” rating and issued a $50.00 price target on shares of Global-E Online in a research note on Thursday, February 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a report on Friday, April 5th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $40.00 price objective on shares of Global-E Online in a report on Monday, April 1st. Finally, The Goldman Sachs Group upped their price objective on Global-E Online from $36.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, January 11th.

Institutional Trading of Global-E Online

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ARK Investment Management LLC increased its stake in Global-E Online by 7.0% in the fourth quarter. ARK Investment Management LLC now owns 1,133,401 shares of the company’s stock worth $44,917,000 after purchasing an additional 73,753 shares during the period. Raymond James & Associates increased its stake in Global-E Online by 344.4% in the fourth quarter. Raymond James & Associates now owns 48,802 shares of the company’s stock worth $1,934,000 after purchasing an additional 37,821 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Global-E Online by 6.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,686,041 shares of the company’s stock worth $66,818,000 after purchasing an additional 100,864 shares during the period. Wellington Management Group LLP increased its stake in Global-E Online by 139.4% in the third quarter. Wellington Management Group LLP now owns 1,265,548 shares of the company’s stock worth $50,293,000 after purchasing an additional 737,019 shares during the period. Finally, Nomura Asset Management Co. Ltd. purchased a new stake in Global-E Online in the third quarter worth $839,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Global-E Online Price Performance

GLBE stock opened at $33.61 on Monday. Global-E Online has a 1-year low of $26.01 and a 1-year high of $45.72. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of -41.49 and a beta of 1.10. The business has a 50 day simple moving average of $34.74 and a two-hundred day simple moving average of $36.21.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings results on Wednesday, February 21st. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). Global-E Online had a negative return on equity of 19.33% and a negative net margin of 23.48%. The business had revenue of $185.40 million during the quarter, compared to the consensus estimate of $181.74 million. During the same quarter in the previous year, the company earned ($0.18) earnings per share. The company’s revenue for the quarter was up 32.5% compared to the same quarter last year. Sell-side analysts anticipate that Global-E Online will post -0.5 EPS 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.