Global-E Online (NASDAQ:GLBE - Get Free Report) had its target price lowered by equities research analysts at Wells Fargo & Company from $60.00 to $54.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 39.14% from the company's current price.
Other research analysts also recently issued research reports about the company. Piper Sandler upped their target price on Global-E Online from $63.00 to $66.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Benchmark reduced their target price on Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Needham & Company LLC upped their target price on Global-E Online from $55.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. KeyCorp upped their target price on Global-E Online from $55.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Finally, UBS Group reduced their target price on Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Global-E Online presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.08.
Read Our Latest Research Report on GLBE
Global-E Online Price Performance
GLBE traded down $0.51 during midday trading on Wednesday, reaching $38.81. 2,644,915 shares of the company's stock traded hands, compared to its average volume of 1,237,894. The firm has a fifty day moving average of $53.77 and a two-hundred day moving average of $46.32. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of -88.20, a P/E/G ratio of 4.61 and a beta of 1.30. Global-E Online has a 52 week low of $28.11 and a 52 week high of $63.69.
Global-E Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.02. The business had revenue of $262.91 million during the quarter, compared to analyst estimates of $250.96 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. 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 company posted $0.22 EPS. Sell-side analysts forecast that Global-E Online will post 0.25 EPS for the current year.
Institutional Trading of Global-E Online
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fred Alger Management LLC boosted its stake in Global-E Online by 204.6% during the 4th quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company's stock valued at $231,178,000 after purchasing an additional 2,847,868 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in Global-E Online during the 4th quarter valued at $40,146,000. Norges Bank purchased a new stake in Global-E Online during the 4th quarter valued at $38,875,000. SG Americas Securities LLC boosted its stake in Global-E Online by 5,939.0% during the 4th quarter. SG Americas Securities LLC now owns 636,393 shares of the company's stock valued at $34,703,000 after purchasing an additional 625,855 shares during the last quarter. Finally, Eventide Asset Management LLC boosted its stake in Global-E Online by 59.1% during the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 94.60% of the company's stock.
Global-E Online Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Global-E Online, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Global-E Online wasn't on the list.
While Global-E Online currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
