Global-E Online (NASDAQ:GLBE) PT Lowered to $47.00

Global-E Online (NASDAQ:GLBE) had its target price trimmed by Piper Sandler from $50.00 to $47.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts also recently issued reports on the company. Benchmark reiterated a buy rating and issued a $41.00 price target on shares of Global-E Online in a report on Tuesday, May 21st. JMP Securities reiterated a market outperform rating and issued a $46.00 price target on shares of Global-E Online in a report on Wednesday, July 10th. Needham & Company LLC reiterated a buy rating and issued a $48.00 price target on shares of Global-E Online in a report on Tuesday, May 21st. Morgan Stanley upgraded Global-E Online from an equal weight rating to an overweight rating and lifted their price target for the company from $33.00 to $37.00 in a report on Tuesday, May 21st. Finally, Wells Fargo & Company reiterated an overweight rating and issued a $40.00 price target on shares of Global-E Online in a report on Monday, April 1st. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Global-E Online has an average rating of Buy and a consensus price target of $43.33.

Global-E Online Stock Up 0.3 %

NASDAQ GLBE opened at $36.93 on Friday. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of -49.90 and a beta of 1.10. The business has a 50-day moving average price of $32.20 and a 200-day moving average price of $34.87. Global-E Online has a twelve month low of $27.30 and a twelve month high of $45.28.

Global-E Online (NASDAQ:GLBE) last announced 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 return on equity of 18.05% and a negative net margin of 20.52%. The firm’s revenue was up 24.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.26) earnings per share. Research analysts expect that Global-E Online will post -0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

Several large investors have recently bought and sold shares of GLBE. Global Retirement Partners LLC boosted its stake in Global-E Online by 31.2% in the first quarter. Global Retirement Partners LLC now owns 1,650 shares of the company’s stock valued at $60,000 after acquiring an additional 392 shares in the last quarter. RiverPark Advisors LLC boosted its stake in Global-E Online by 360.9% in the first quarter. RiverPark Advisors LLC now owns 3,650 shares of the company’s stock valued at $133,000 after acquiring an additional 2,858 shares in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in Global-E Online in the fourth quarter valued at $141,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Global-E Online by 18.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after buying an additional 624 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Global-E Online by 15.2% during the first quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock worth $215,000 after buying an additional 780 shares during the period. Institutional investors and hedge funds 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.