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

Shares of Global-E Online Ltd. (NASDAQ:GLBE) have received a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $43.09.

Several research firms recently commented on GLBE. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a research note on Thursday, August 15th. Morgan Stanley downgraded Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective on the stock. in a research note on Friday, October 18th. KeyCorp dropped their price objective on Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. UBS Group dropped their target price on Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Finally, Bank of America dropped their target price on Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GLBE. Dragoneer Investment Group LLC lifted its holdings in shares of 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 last quarter. Abdiel Capital Advisors LP increased its position in shares of Global-E Online by 1.4% during the second quarter. Abdiel Capital Advisors LP now owns 6,776,495 shares of the company’s stock worth $245,783,000 after acquiring an additional 95,741 shares during the period. Capital World Investors increased its position in shares of Global-E Online by 60.5% during the first quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock worth $181,150,000 after acquiring an additional 1,877,953 shares during the period. Clearbridge Investments LLC bought a new position in shares of Global-E Online during the second quarter valued at approximately $83,036,000. Finally, Brown Capital Management LLC bought a new position in shares of Global-E Online during the first quarter valued at approximately $69,352,000. Institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Down 2.9 %

GLBE stock opened at $41.02 on Friday. The firm has a market cap of $6.74 billion, a PE ratio of -63.11 and a beta of 1.10. The business has a 50 day moving average of $38.00 and a 200-day moving average of $34.72. Global-E Online has a 12-month low of $27.30 and a 12-month high of $43.52.

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