Global-E Online (NASDAQ:GLBE) Shares Down 3.4% - What's Next?

Shares of Global-E Online Ltd. (NASDAQ:GLBE - Get Free Report) were down 3.4% during trading on Monday . The stock traded as low as $32.31 and last traded at $32.58. Approximately 1,135,302 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 1,362,852 shares. The stock had previously closed at $33.71.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GLBE shares. Needham & Company LLC reiterated a "buy" rating and issued a $64.00 price target on shares of Global-E Online in a report on Wednesday, March 12th. KeyCorp raised their target price on shares of Global-E Online from $55.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Morgan Stanley raised shares of Global-E Online from an "equal weight" rating to an "overweight" rating and decreased their price target for the company from $55.00 to $46.00 in a research note on Wednesday, March 26th. UBS Group reduced their target price on shares of Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a report on Friday, February 21st. Finally, The Goldman Sachs Group lowered their price objective on Global-E Online from $59.00 to $47.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Global-E Online has an average rating of "Buy" and an average price target of $57.00.

Global-E Online Stock Performance

The company has a market cap of $5.49 billion, a P/E ratio of -73.73, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. The business's fifty day moving average is $39.80 and its two-hundred day moving average is $45.97.

Global-E Online (NASDAQ:GLBE - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. The firm 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 8.56%. The company's revenue was up 41.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Analysts expect that Global-E Online Ltd. will post 0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Global-E Online

Several large investors have recently modified their holdings of the business. Fred Alger Management LLC increased its holdings in Global-E Online by 204.6% during the fourth quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company's stock valued at $231,178,000 after buying an additional 2,847,868 shares during the period. Lord Abbett & CO. LLC purchased a new position in Global-E Online in the fourth quarter valued at about $40,146,000. Norges Bank purchased a new stake in shares of Global-E Online during the fourth quarter valued at about $38,875,000. SG Americas Securities LLC boosted its holdings in shares of 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 valued at $34,703,000 after buying an additional 625,855 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Global-E Online by 40.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company's stock worth $70,979,000 after buying an additional 533,675 shares during the last quarter. 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.