Wells Fargo & Company Lowers Global-E Online (NASDAQ:GLBE) Price Target to $54.00

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.

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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

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.