Global-E Online (NASDAQ:GLBE) Hits New 12-Month Low – Here’s Why

Global-E Online Ltd. (NASDAQ:GLBE) shares hit a new 52-week low during trading 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.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GLBE shares. 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 report on Monday, January 6th. Morgan Stanley raised Global-E Online from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $55.00 to $46.00 in a research report on Wednesday, March 26th. KeyCorp raised their price target on Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. 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 note on Thursday, February 20th. Finally, The Goldman Sachs Group cut their price objective on shares of Global-E Online from $59.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Global-E Online presently has an average rating of “Buy” and an average price target of $57.00.

Global-E Online Stock Performance

The firm has a 50 day moving average of $44.61 and a two-hundred day moving average of $46.35. The stock has a market cap of $5.04 billion, a P/E ratio of -67.73, a P/E/G ratio of 4.61 and a beta of 1.36.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings data 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. The business had revenue of $262.91 million for 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%. Global-E Online’s quarterly revenue was up 41.8% on a year-over-year basis. During the same quarter last year, the company posted $0.22 earnings per share. On average, sell-side analysts anticipate that Global-E Online Ltd. will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Fifth Third Bancorp increased its stake in Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after acquiring an additional 197 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Global-E Online by 1,968.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after purchasing an additional 748 shares during the period. Arcadia Investment Management Corp MI acquired a new position in shares of Global-E Online in the fourth quarter valued at $59,000. Whipplewood Advisors LLC bought a new position in Global-E Online in the fourth quarter worth $65,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Global-E Online during the fourth quarter worth $99,000. 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.