Needham & Company LLC Reaffirms “Buy” Rating for Global-E Online (NASDAQ:GLBE)

Needham & Company LLC reiterated their buy rating on shares of Global-E Online (NASDAQ:GLBE) in a report published on Wednesday,Benzinga reports. The firm currently has a $64.00 price objective on the stock.

A number of other brokerages also recently issued reports on GLBE. Piper Sandler increased their price objective on shares of Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. UBS Group reduced their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. The Goldman Sachs Group increased their price objective on shares of Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. KeyCorp increased their price objective on shares of Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Morgan Stanley increased their price objective on shares of Global-E Online from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.08.

Global-E Online Stock Performance

GLBE stock opened at $38.67 on Wednesday. The company’s 50-day simple moving average is $52.75 and its 200 day simple moving average is $46.37. Global-E Online has a 52 week low of $28.11 and a 52 week high of $63.69. The company has a market capitalization of $6.35 billion, a PE ratio of -87.89, a price-to-earnings-growth ratio of 4.61 and a beta of 1.30.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, beating 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 8.56%. The business had revenue of $262.91 million for the quarter, compared to the consensus estimate of $250.96 million. During the same period in the prior year, the company posted $0.22 earnings per share. Global-E Online’s revenue was up 41.8% compared to the same quarter last year. On average, analysts forecast that Global-E Online will post 0.25 EPS for the current year.

Institutional Investors Weigh In On Global-E Online

A number of hedge funds have recently made changes to their positions in the stock. Siemens Fonds Invest GmbH acquired a new stake in shares of Global-E Online in the 4th quarter valued at approximately $124,000. Polar Asset Management Partners Inc. bought a new position in Global-E Online in the 4th quarter valued at approximately $3,883,000. Mackenzie Financial Corp raised its holdings in Global-E Online by 7.1% in the 4th quarter. Mackenzie Financial Corp now owns 6,740 shares of the company’s stock valued at $368,000 after buying an additional 448 shares during the last quarter. PharVision Advisers LLC bought a new position in Global-E Online in the 4th quarter valued at approximately $356,000. Finally, USS Investment Management Ltd bought a new position in Global-E Online in the 4th quarter valued at approximately $3,336,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

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.