Global-E Online Ltd. (NASDAQ:GLBE) Short Interest Update

Global-E Online Ltd. (NASDAQ:GLBE) saw a significant drop in short interest in February. As of February 28th, there was short interest totalling 3,560,000 shares, a drop of 16.8% from the February 13th total of 4,280,000 shares. Approximately 3.5% of the company’s stock are sold short. Based on an average daily trading volume, of 1,540,000 shares, the short-interest ratio is currently 2.3 days.

Analysts Set New Price Targets

A number of analysts have weighed in on GLBE shares. Piper Sandler raised their price target on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Morgan Stanley raised their price target on Global-E Online from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 18th. Wells Fargo & Company cut their price target on Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. KeyCorp raised their price target on Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, Benchmark cut their price target on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Global-E Online currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.08.

Hedge Funds Weigh In On Global-E Online

Hedge funds and other institutional investors have recently made changes to their positions in the stock. TimesSquare Capital Management LLC grew its holdings in shares of 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 during the last quarter. Fred Alger Management LLC purchased a new stake in Global-E Online in the 3rd quarter valued at approximately $53,493,000. JPMorgan Chase & Co. boosted its holdings 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 valued at $70,979,000 after purchasing an additional 533,675 shares in the last quarter. Meitav Investment House Ltd. purchased a new stake in Global-E Online in the 4th quarter valued at approximately $454,000. Finally, Amundi boosted its holdings in Global-E Online by 126.9% in the 4th quarter. Amundi now owns 788,542 shares of the company’s stock valued at $41,619,000 after purchasing an additional 440,953 shares in the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Global-E Online Trading Down 2.0 %

Shares of NASDAQ GLBE traded down $0.75 during midday trading on Tuesday, reaching $36.32. 1,671,014 shares of the company were exchanged, compared to its average volume of 1,263,931. Global-E Online has a 1 year low of $28.11 and a 1 year high of $63.69. The stock has a fifty day simple moving average of $51.68 and a 200 day simple moving average of $46.50. The stock has a market cap of $5.97 billion, a P/E ratio of -82.55, a PEG ratio of 4.61 and a beta of 1.30.

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

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.