Bank of America Increases Global-E Online (NASDAQ:GLBE) Price Target to $47.00

Global-E Online (NASDAQ:GLBE) had its price target raised by Bank of America from $46.00 to $47.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company reiterated an overweight rating and issued a $40.00 price objective on shares of Global-E Online in a report on Monday, April 1st. Piper Sandler reaffirmed an overweight rating and set a $50.00 price objective on shares of Global-E Online in a research report on Thursday, February 22nd. Morgan Stanley upgraded Global-E Online from an equal weight rating to an overweight rating and raised their target price for the company from $33.00 to $37.00 in a research note on Tuesday. Finally, Needham & Company LLC restated a buy rating and set a $48.00 target price on shares of Global-E Online in a report on Friday, April 5th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of Buy and a consensus target price of $43.83.

Global-E Online Stock Performance

Shares of GLBE stock opened at $29.42 on Tuesday. The company has a market capitalization of $4.83 billion, a P/E ratio of -39.76 and a beta of 1.13. Global-E Online has a fifty-two week low of $27.30 and a fifty-two week high of $45.72. The stock has a 50 day moving average price of $33.32 and a two-hundred day moving average price of $35.60.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings results on Monday, May 20th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04. The company had revenue of $145.90 million during the quarter, compared to analyst estimates of $141.55 million. Global-E Online had a negative net margin of 20.52% and a negative return on equity of 18.05%. The firm’s revenue was up 24.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.26) EPS. As a group, equities analysts predict that Global-E Online will post -0.52 earnings per share for the current year.

Hedge Funds Weigh In On Global-E Online

Hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in shares of Global-E Online by 5.7% in the first quarter. Principal Financial Group Inc. now owns 6,881 shares of the company’s stock worth $250,000 after purchasing an additional 369 shares during the last quarter. Global Retirement Partners LLC raised its position in Global-E Online by 31.2% in the 1st quarter. Global Retirement Partners LLC now owns 1,650 shares of the company’s stock worth $60,000 after buying an additional 392 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in Global-E Online by 1.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 39,692 shares of the company’s stock valued at $1,602,000 after acquiring an additional 437 shares during the period. American International Group Inc. grew its stake in shares of Global-E Online by 3.2% in the first quarter. American International Group Inc. now owns 15,619 shares of the company’s stock worth $568,000 after acquiring an additional 484 shares during the period. Finally, TD Asset Management Inc raised its holdings in shares of Global-E Online by 2.2% during the fourth quarter. TD Asset Management Inc now owns 22,926 shares of the company’s stock valued at $909,000 after purchasing an additional 486 shares during the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

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.