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

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

GLBE has been the topic of a number of other research reports. UBS Group cut 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 report on Friday, February 21st. JMP Securities boosted their price objective on shares of Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 21st. Piper Sandler boosted 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 report on Monday, January 6th. Morgan Stanley boosted 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 report on Tuesday, February 18th. Finally, Raymond James boosted their price objective on shares of Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.08.

Global-E Online Stock Up 5.3 %

Global-E Online stock opened at $38.67 on Wednesday. The stock 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 has a twelve month low of $28.11 and a twelve month high of $63.69. The company has a 50 day moving average of $52.75 and a 200-day moving average of $46.37.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. The company had revenue of $262.91 million during the quarter, compared to analysts’ expectations of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The business’s quarterly revenue was up 41.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.22 earnings per share. Equities analysts anticipate that Global-E Online will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

Several large investors have recently modified their holdings of the stock. Fifth Third Bancorp raised its position in shares of Global-E Online by 69.1% in the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Global-E Online by 2.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock valued at $436,000 after purchasing an additional 200 shares during the period. Voya Investment Management LLC raised its position in shares of Global-E Online by 1.3% in the fourth quarter. Voya Investment Management LLC now owns 17,060 shares of the company’s stock valued at $930,000 after purchasing an additional 227 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Global-E Online by 1.6% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company’s stock valued at $908,000 after purchasing an additional 260 shares during the period. Finally, CIBC Asset Management Inc raised its position in shares of Global-E Online by 4.4% in the third quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock valued at $362,000 after purchasing an additional 393 shares during the period. 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.