Global-E Online (NASDAQ:GLBE) PT Lowered to $48.00 at UBS Group

Global-E Online (NASDAQ:GLBE) had its price objective decreased by research analysts at UBS Group from $50.00 to $48.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective suggests a potential upside of 25.98% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group reiterated a “buy” rating and set a $43.00 price target on shares of Global-E Online in a research report on Monday, July 1st. Morgan Stanley downgraded shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price target for the company. in a research report on Friday. Piper Sandler reduced their price target on shares of Global-E Online from $47.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Bank of America reduced their price target on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $48.00 price target on shares of Global-E Online in a research report on Thursday, August 15th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.09.

Global-E Online Stock Performance

NASDAQ:GLBE traded up $0.45 during mid-day trading on Friday, reaching $38.10. The stock had a trading volume of 90,195 shares, compared to its average volume of 1,108,029. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of -51.49 and a beta of 1.10. Global-E Online has a twelve month low of $27.30 and a twelve month high of $42.88. The business has a 50 day simple moving average of $35.84 and a 200 day simple moving average of $34.04.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings data 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 net margin of 17.33% and a negative return on equity of 16.41%. The firm had revenue of $168.00 million during the quarter, compared to the consensus estimate of $165.95 million. During the same quarter last year, the firm earned ($0.22) earnings per share. The firm’s revenue was up 26.0% compared to the same quarter last year. As a group, sell-side analysts expect that Global-E Online will post -0.5 earnings per share for the current year.

Institutional Trading of Global-E Online

Several hedge funds and other institutional investors have recently bought and sold shares of GLBE. Toronto Dominion Bank purchased a new stake in Global-E Online in the 2nd quarter worth approximately $40,000. RiverPark Advisors LLC grew its stake in Global-E Online by 360.9% in the 1st quarter. RiverPark Advisors LLC now owns 3,650 shares of the company’s stock worth $133,000 after acquiring an additional 2,858 shares during the period. DekaBank Deutsche Girozentrale grew its stake in Global-E Online by 18.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after acquiring an additional 624 shares during the period. Russell Investments Group Ltd. grew its stake in Global-E Online by 15.2% in the 1st quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock worth $215,000 after acquiring an additional 780 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in Global-E Online in the 2nd quarter worth approximately $220,000. 94.60% of the stock is 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.