Benchmark Issues Pessimistic Forecast for Global-E Online (NASDAQ:GLBE) Stock Price

Global-E Online (NASDAQ:GLBE - Get Free Report) had its price target dropped by research analysts at Benchmark from $68.00 to $64.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Benchmark's target price indicates a potential upside of 42.00% from the company's previous close.

Several other research analysts also recently weighed in on the stock. Morgan Stanley upped their target price on shares of Global-E Online from $52.00 to $55.00 and gave the stock an "equal weight" rating in a report on Tuesday. JMP Securities boosted their price target on shares of Global-E Online from $46.00 to $64.00 and gave the stock a "market outperform" rating in a research note on Thursday, November 21st. Jefferies Financial Group boosted their price target on shares of Global-E Online from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Monday, November 18th. Wells Fargo & Company boosted their price target on shares of Global-E Online from $45.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. Finally, Needham & Company LLC boosted their price target on shares of Global-E Online from $55.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.58.

Global-E Online Trading Down 3.3 %

Global-E Online stock traded down $1.56 during mid-day trading on Thursday, hitting $45.07. The stock had a trading volume of 2,912,725 shares, compared to its average volume of 1,496,892. The firm has a market capitalization of $7.40 billion, a P/E ratio of -102.43, a P/E/G ratio of 5.03 and a beta of 1.23. The firm's 50 day moving average is $56.49 and its 200 day moving average is $45.65. Global-E Online has a one year low of $28.11 and a one year high of $63.69.

Global-E Online (NASDAQ:GLBE - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. The company had revenue of $262.91 million during the quarter, compared to the consensus estimate of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.60%. Global-E Online's quarterly revenue was up 41.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 EPS. As a group, equities research analysts forecast that Global-E Online will post 0.25 earnings per share for the current year.

Hedge Funds Weigh In On Global-E Online

A number of hedge funds have recently added to or reduced their stakes in GLBE. Fred Alger Management LLC grew its stake in Global-E Online by 204.6% in the 4th quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company's stock worth $231,178,000 after acquiring an additional 2,847,868 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in Global-E Online in the 4th quarter worth about $40,146,000. Norges Bank bought a new position in Global-E Online in the 4th quarter worth about $38,875,000. SG Americas Securities LLC grew its stake in Global-E Online by 5,939.0% in the 4th quarter. SG Americas Securities LLC now owns 636,393 shares of the company's stock worth $34,703,000 after acquiring an additional 625,855 shares in the last quarter. Finally, Eventide Asset Management LLC boosted its stake in shares of Global-E Online by 59.1% during the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company's stock valued at $60,091,000 after purchasing an additional 580,450 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors.

About Global-E Online

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.