Analysts Set Global-E Online Ltd. (NASDAQ:GLBE) PT at $54.08

Global-E Online Ltd. (NASDAQ:GLBE) has been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $58.25.

A number of analysts have weighed in on the company. Raymond James upped 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. The Goldman Sachs Group upped their target price on Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Wells Fargo & Company upped their target price on Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. KeyCorp increased their price objective on Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, Benchmark decreased their price objective on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a report on Thursday.

Global-E Online Stock Down 8.4 %

Shares of NASDAQ:GLBE opened at $46.63 on Friday. Global-E Online has a 52-week low of $28.11 and a 52-week high of $63.69. The stock has a market cap of $7.66 billion, a P/E ratio of -80.40, a price-to-earnings-growth ratio of 6.37 and a beta of 1.23. The business’s 50 day moving average is $56.72 and its 200 day moving average is $45.56.

Global-E Online (NASDAQ:GLBE) last posted 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. The company had revenue of $262.91 million during the quarter, compared to analyst estimates of $250.96 million. Global-E Online had a negative return on equity of 15.05% and a negative net margin of 14.68%. Global-E Online’s revenue was up 41.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. On average, sell-side analysts anticipate that Global-E Online will post -0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLBE. Fred Alger Management LLC raised its stake in 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 worth $231,178,000 after acquiring an additional 2,847,868 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in Global-E Online during the 4th quarter worth about $40,146,000. Norges Bank acquired a new stake in Global-E Online during the 4th quarter worth about $38,875,000. SG Americas Securities LLC grew its position in Global-E Online by 5,939.0% during the 4th quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock worth $34,703,000 after purchasing an additional 625,855 shares during the period. Finally, Eventide Asset Management LLC grew its position in Global-E Online by 59.1% during the 3rd quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock worth $60,091,000 after purchasing an additional 580,450 shares during the period. Hedge funds and other institutional investors 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.