Global-E Online's (GLBE) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Global-E Online (NASDAQ:GLBE - Free Report) in a report released on Wednesday morning,Benzinga reports. They currently have a $64.00 price objective on the stock.

A number of other analysts also recently weighed in on the company. Raymond James lifted their price target on Global-E Online from $41.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, November 21st. JMP Securities raised their target price on shares of Global-E Online from $46.00 to $64.00 and gave the stock a "market outperform" rating in a research report on Thursday, November 21st. Benchmark lowered their price target 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. UBS Group cut 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 research note on Friday, February 21st. Finally, KeyCorp boosted their price target on Global-E Online from $55.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $59.08.

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Global-E Online Stock Down 7.1 %

Shares of Global-E Online stock traded down $2.75 on Wednesday, reaching $35.92. The stock had a trading volume of 2,084,901 shares, compared to its average volume of 1,260,239. Global-E Online has a 1 year low of $28.11 and a 1 year high of $63.69. The company has a 50 day moving average price of $52.39 and a 200 day moving average price of $46.30. The stock has a market capitalization of $5.90 billion, a P/E ratio of -81.64, a P/E/G ratio of 4.61 and a beta of 1.30.

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

Institutional Investors Weigh In On Global-E Online

Institutional investors have recently modified their holdings of the business. Fred Alger Management LLC raised its stake in shares of Global-E Online by 204.6% in 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 period. Lord Abbett & CO. LLC bought a new position in Global-E Online in the 4th quarter valued at about $40,146,000. Norges Bank acquired a new stake in Global-E Online during the 4th quarter worth approximately $38,875,000. SG Americas Securities LLC grew its stake in shares of Global-E Online by 5,939.0% in the fourth quarter. SG Americas Securities LLC now owns 636,393 shares of the company's stock valued at $34,703,000 after acquiring an additional 625,855 shares in the last quarter. Finally, Eventide Asset Management LLC raised its position in shares of Global-E Online by 59.1% in the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company's stock valued at $60,091,000 after buying an additional 580,450 shares in the last quarter. Institutional investors and hedge funds 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.