Global-E Online (NASDAQ:GLBE) Reaches New 52-Week Low - Here's Why

Global-E Online Ltd. (NASDAQ:GLBE - Get Free Report) hit a new 52-week low on Monday . The company traded as low as $26.64 and last traded at $26.90, with a volume of 272737 shares trading hands. The stock had previously closed at $29.18.

Wall Street Analysts Forecast Growth

GLBE has been the subject of several research analyst reports. Morgan Stanley raised Global-E Online from an "equal weight" rating to an "overweight" rating and decreased their price objective for the company from $55.00 to $46.00 in a report on Wednesday, March 26th. KeyCorp increased their price target on shares of Global-E Online from $55.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. UBS Group dropped their price objective on shares of Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Piper Sandler increased their target price on shares of Global-E Online from $63.00 to $66.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company dropped their price target on Global-E Online from $60.00 to $54.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $57.00.

Global-E Online Price Performance

The stock's 50-day moving average is $42.65 and its 200 day moving average is $46.22. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of -76.61, a P/E/G ratio of 4.61 and a beta of 1.36.

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. Analysts anticipate that Global-E Online Ltd. will post 0.25 EPS for the current year.

Hedge Funds Weigh In On Global-E Online

A number of large investors have recently made changes to their positions in the stock. Fifth Third Bancorp grew its position in Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company's stock worth $26,000 after buying an additional 197 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Global-E Online by 1,968.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company's stock worth $43,000 after acquiring an additional 748 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Global-E Online in the 4th quarter worth approximately $59,000. Whipplewood Advisors LLC purchased a new position in Global-E Online in the 4th quarter valued at approximately $65,000. Finally, SBI Securities Co. Ltd. acquired a new position in Global-E Online during the fourth quarter worth $99,000. Hedge funds and other institutional investors own 94.60% of the company's stock.

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.