Global-E Online (NASDAQ:GLBE) Price Target Lowered to $47.00 at The Goldman Sachs Group

Global-E Online (NASDAQ:GLBE - Free Report) had its price target cut by The Goldman Sachs Group from $59.00 to $47.00 in a research report released on Wednesday, MarketBeat.com reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently commented on GLBE. Needham & Company LLC reiterated a "buy" rating and set a $64.00 target price on shares of Global-E Online in a report on Wednesday, March 12th. Benchmark dropped their price objective on Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Piper Sandler upped their target price on shares of Global-E Online from $63.00 to $66.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Wells Fargo & Company lowered their price target on shares of Global-E Online from $60.00 to $54.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Finally, Morgan Stanley raised shares of Global-E Online from an "equal weight" rating to an "overweight" rating and reduced their price objective for the company from $55.00 to $46.00 in a research note on Wednesday, March 26th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $57.00.

Global-E Online Trading Up 3.0 %

Shares of Global-E Online stock traded up $0.88 during trading on Wednesday, reaching $30.06. The company's stock had a trading volume of 4,711,835 shares, compared to its average volume of 1,337,661. The firm has a market cap of $5.08 billion, a PE ratio of -68.31, a P/E/G ratio of 4.61 and a beta of 1.36. The company has a 50-day moving average price of $46.39 and a two-hundred day moving average price of $46.58. Global-E Online has a fifty-two week low of $26.68 and a fifty-two week high of $63.69.

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

Institutional Trading of Global-E Online

Large investors have recently bought and sold shares of the company. TimesSquare Capital Management LLC grew its stake in Global-E Online by 6.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 770,999 shares of the company's stock valued at $42,043,000 after purchasing an additional 45,739 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Global-E Online by 40.7% during the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company's stock worth $70,979,000 after acquiring an additional 533,675 shares during the last quarter. Meitav Investment House Ltd. acquired a new stake in shares of Global-E Online in the fourth quarter valued at approximately $454,000. Amundi boosted its position in Global-E Online by 126.9% during the 4th quarter. Amundi now owns 788,542 shares of the company's stock worth $41,619,000 after acquiring an additional 440,953 shares during the period. Finally, Aigen Investment Management LP bought a new stake in Global-E Online in the fourth quarter worth about $802,000. 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.