Global-E Online (NASDAQ:GLBE) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Global-E Online (NASDAQ:GLBE) had its price target upped by Needham & Company LLC from $55.00 to $64.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently weighed in on GLBE. Piper Sandler lifted 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. KeyCorp lifted 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. Raymond James lifted their target price on Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. JMP Securities lifted their target price on Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a report on Thursday, November 21st. Finally, Benchmark lifted their target price on Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 18th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Global-E Online has an average rating of “Moderate Buy” and a consensus target price of $59.58.

Global-E Online Price Performance

Global-E Online stock opened at $45.07 on Wednesday. The stock’s 50 day moving average is $56.49 and its 200 day moving average is $45.65. The firm has a market cap of $7.40 billion, a P/E ratio of -102.43, a P/E/G ratio of 5.03 and a beta of 1.23. Global-E Online has a one year low of $28.11 and a one year high of $63.69.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $262.91 million for the quarter, compared to analyst estimates of $250.96 million. Global-E Online had a negative return on equity of 8.60% and a negative net margin of 10.04%. The firm’s quarterly revenue was up 41.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 earnings per share. Equities analysts anticipate that Global-E Online will post 0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Global-E Online

Hedge funds and other institutional investors have recently modified their holdings of the company. Fred Alger Management LLC bought a new stake in Global-E Online during the third quarter worth $53,493,000. TimesSquare Capital Management LLC grew its holdings in Global-E Online by 6.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 770,999 shares of the company’s stock worth $42,043,000 after buying an additional 45,739 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Global-E Online by 40.7% during the third 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 in the last quarter. Mount Yale Investment Advisors LLC grew its holdings in Global-E Online by 143.8% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 20,507 shares of the company’s stock worth $1,118,000 after buying an additional 12,094 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in Global-E Online by 23.8% during the third quarter. Public Sector Pension Investment Board now owns 51,950 shares of the company’s stock worth $1,997,000 after buying an additional 10,000 shares in 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.