Needham & Company LLC Lowers Global-E Online (NASDAQ:GLBE) Price Target to $40.00

Global-E Online (NASDAQ:GLBE - Get Free Report) had its price target reduced by investment analysts at Needham & Company LLC from $64.00 to $40.00 in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price target suggests a potential upside of 10.44% from the stock's previous close.

Several other equities analysts have also commented on GLBE. Benchmark lowered their target price on Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a report on Thursday, February 20th. KeyCorp boosted their price objective 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. Morgan Stanley upgraded shares of Global-E Online from an "equal weight" rating to an "overweight" rating and decreased their target price for the company from $55.00 to $46.00 in a research report on Wednesday, March 26th. UBS Group lowered 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. Finally, The Goldman Sachs Group cut their target price on Global-E Online from $59.00 to $47.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, Global-E Online has a consensus rating of "Buy" and an average target price of $51.33.

Global-E Online Stock Performance

Shares of NASDAQ GLBE traded down $0.11 during trading on Tuesday, reaching $36.22. The stock had a trading volume of 935,692 shares, compared to its average volume of 1,401,468. The stock has a market cap of $6.13 billion, a PE ratio of -82.32, a P/E/G ratio of 4.61 and a beta of 1.36. Global-E Online has a one year low of $26.64 and a one year high of $63.69. The firm's 50 day moving average price is $37.00 and its two-hundred day moving average price is $45.89.

Global-E Online (NASDAQ:GLBE - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $262.91 million for the quarter, compared to analysts' expectations of $250.96 million. During the same period in the prior year, the company earned $0.22 earnings per share. The firm's revenue was up 41.8% compared to the same quarter last year. On average, research analysts expect that Global-E Online will post 0.25 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC lifted its position in shares of Global-E Online by 83.2% in the 3rd quarter. Barclays PLC now owns 29,636 shares of the company's stock valued at $1,139,000 after acquiring an additional 13,463 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Global-E Online by 3.4% in the third quarter. Geode Capital Management LLC now owns 933,476 shares of the company's stock worth $35,722,000 after buying an additional 30,995 shares during the period. Tidal Investments LLC grew its holdings in shares of Global-E Online by 4.6% during the third quarter. Tidal Investments LLC now owns 70,792 shares of the company's stock valued at $2,721,000 after buying an additional 3,129 shares in the last quarter. Franklin Resources Inc. acquired a new position in Global-E Online during the third quarter valued at $223,000. Finally, JPMorgan Chase & Co. lifted its stake in 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 acquiring an additional 533,675 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

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.