Global-E Online (NASDAQ:GLBE) Shares Down 2.8% – Time to Sell?

Shares of Global-E Online Ltd. (NASDAQ:GLBE) were down 2.8% during mid-day trading on Wednesday . The company traded as low as $37.15 and last traded at $37.19. Approximately 366,242 shares traded hands during trading, a decline of 67% from the average daily volume of 1,114,420 shares. The stock had previously closed at $38.27.

Analyst Upgrades and Downgrades

GLBE has been the subject of several analyst reports. Piper Sandler reaffirmed a “buy” rating on shares of Global-E Online in a research report on Friday. 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 research report on Thursday, August 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a research report on Thursday, August 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $46.00 target price on shares of Global-E Online in a research report on Wednesday, July 10th. Finally, KeyCorp reduced their price target on Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Global-E Online currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.09.

Global-E Online Stock Performance

The stock’s fifty day moving average is $35.84 and its two-hundred day moving average is $34.04. The firm 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, beating analysts’ consensus estimates of ($0.16) by $0.03. The firm had revenue of $168.00 million during 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 revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.22) EPS. Sell-side analysts predict that Global-E Online Ltd. will post -0.5 earnings per share for the current year.

Hedge Funds Weigh In On Global-E Online

Several large investors have recently made changes to their positions in the business. Dragoneer Investment Group LLC boosted its holdings 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 buying an additional 1,288,829 shares during the period. Abdiel Capital Advisors LP boosted its holdings in shares of Global-E Online by 1.4% in the second quarter. Abdiel Capital Advisors LP now owns 6,776,495 shares of the company’s stock worth $245,783,000 after buying an additional 95,741 shares during the period. Capital World Investors lifted its position 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 in the last quarter. Clearbridge Investments LLC purchased a new stake in shares of Global-E Online in the second quarter worth approximately $83,036,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Global-E Online by 16.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,956,990 shares of the company’s stock worth $71,137,000 after purchasing an additional 270,949 shares in the last quarter. Institutional investors own 94.60% of the company’s stock.

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.