Global-e Online (NASDAQ:GLBE) Price Target Raised to $40.00

Global-e Online (NASDAQ:GLBE – Get Rating) had its price objective lifted by Raymond James from $35.00 to $40.00 in a report released on Tuesday morning, The Fly reports.

A number of other research firms have also recently commented on GLBE. Needham & Company LLC reissued a buy rating and issued a $44.00 price target on shares of Global-e Online in a research note on Thursday, February 23rd. Jefferies Financial Group boosted their price target on shares of Global-e Online from $35.00 to $40.00 in a research note on Monday. KeyCorp boosted their price target on shares of Global-e Online from $35.00 to $40.00 and gave the stock an overweight rating in a research note on Wednesday, April 5th. Piper Sandler upped their price objective on shares of Global-e Online from $27.00 to $34.00 and gave the company an overweight rating in a research note on Thursday, February 23rd. Finally, Bank of America upped their price objective on shares of Global-e Online from $36.00 to $42.00 in a research note on Tuesday. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of $37.88.

Global-e Online Stock Down 3.8 %

NASDAQ GLBE opened at $32.47 on Tuesday. The company’s 50 day moving average is $30.14 and its 200-day moving average is $26.40. Global-e Online has a 12-month low of $16.32 and a 12-month high of $37.65. The firm has a market cap of $5.24 billion, a P/E ratio of -27.99 and a beta of 1.25.

Global-e Online (NASDAQ:GLBE – Get Rating) last issued its quarterly earnings data on Monday, May 22nd. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.02. The company had revenue of $117.60 million during the quarter, compared to analysts’ expectations of $111.65 million. Global-e Online had a negative net margin of 41.06% and a negative return on equity of 20.01%. Global-e Online’s revenue for the quarter was up 54.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.05) earnings per share. Equities analysts expect that Global-e Online will post -0.99 EPS for the current year.

Hedge Funds Weigh In On Global-e Online

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP raised its stake in shares of Global-e Online by 169.9% during the first quarter. Quarry LP now owns 915 shares of the company’s stock valued at $29,000 after acquiring an additional 576 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Global-e Online by 176.8% during the third quarter. Rockefeller Capital Management L.P. now owns 1,647 shares of the company’s stock valued at $44,000 after acquiring an additional 1,052 shares during the last quarter. Money Concepts Capital Corp bought a new position in Global-e Online in the fourth quarter worth about $40,000. Sandia Investment Management LP bought a new position in Global-e Online in the third quarter worth about $62,000. Finally, Lazard Asset Management LLC bought a new position in Global-e Online in the fourth quarter worth about $53,000. 61.12% of the stock is owned by institutional investors.

Global-e Online Company Profile

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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.