Global-E Online (NASDAQ:GLBE) PT Lowered to $38.00 at KeyCorp

Global-E Online (NASDAQ:GLBE) had its price objective dropped by analysts at KeyCorp from $40.00 to $38.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 17.32% from the company’s previous close.

GLBE has been the subject of several other research reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $43.00 price target on shares of Global-E Online in a report on Monday, July 1st. Benchmark reiterated a “buy” rating and issued a $41.00 price objective on shares of Global-E Online in a research report on Tuesday, May 21st. Bank of America reduced their price target on Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday. Morgan Stanley raised their price target on Global-E Online from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, Piper Sandler reduced their price target on Global-E Online from $47.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Global-E Online has a consensus rating of “Buy” and an average price target of $42.82.

Global-E Online Trading Up 2.7 %

NASDAQ GLBE traded up $0.86 on Thursday, reaching $32.39. The stock had a trading volume of 707,893 shares, compared to its average volume of 1,172,589. The business has a 50 day moving average price of $33.82 and a 200 day moving average price of $34.19. Global-E Online has a 1 year low of $27.30 and a 1 year high of $42.88. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of -43.77 and a beta of 1.10.

Global-E Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, August 14th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. Global-E Online had a negative return on equity of 18.05% and a negative net margin of 20.52%. The firm had revenue of $168.00 million for the quarter, compared to the consensus estimate of $165.95 million. During the same quarter in the previous year, the company posted ($0.22) earnings per share. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, analysts anticipate that Global-E Online will post -0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GLBE. Capital World Investors raised its position in Global-E Online by 581.5% during the 4th quarter. Capital World Investors now owns 3,105,532 shares of the company’s stock worth $123,072,000 after purchasing an additional 2,649,873 shares during the last quarter. Brown Capital Management LLC bought a new position in Global-E Online during the 1st quarter worth $69,352,000. Contour Asset Management LLC bought a new position in Global-E Online during the 4th quarter worth $57,816,000. Dragoneer Investment Group LLC grew its holdings in Global-E Online by 9.6% during the 2nd quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock worth $534,403,000 after acquiring an additional 1,288,829 shares during the period. Finally, Hood River Capital Management LLC acquired a new stake in Global-E Online during the 2nd quarter worth about $36,182,000. 94.60% of the stock is owned by 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.