Global-e Online (NASDAQ:GLBE) PT Lowered to $36.00

Global-e Online (NASDAQ:GLBE) had its target price decreased by analysts at The Goldman Sachs Group from $48.00 to $36.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 18.54% from the company’s previous close.

GLBE has been the subject of several other reports. KeyCorp cut their target price on shares of Global-e Online from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday. Raymond James cut their price objective on Global-e Online from $45.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday. UBS Group decreased their target price on Global-e Online from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday. Benchmark cut their price target on Global-e Online from $50.00 to $40.00 and set a “buy” rating for the company in a report on Thursday. Finally, Morgan Stanley reduced their price objective on Global-e Online from $41.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Thursday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Global-e Online presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.50.

Global-e Online Stock Up 5.6 %

NASDAQ GLBE opened at $30.37 on Friday. Global-e Online has a twelve month low of $18.14 and a twelve month high of $45.72. The business has a 50-day moving average price of $36.58 and a 200-day moving average price of $37.39. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of -35.31 and a beta of 1.34.

Global-e Online (NASDAQ:GLBE) last posted its quarterly earnings results on Wednesday, November 15th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. Global-e Online had a negative return on equity of 15.08% and a negative net margin of 26.73%. The company had revenue of $133.60 million for the quarter, compared to analysts’ expectations of $140.93 million. During the same period in the previous year, the firm earned ($0.41) EPS. The firm’s revenue was up 26.5% compared to the same quarter last year. Research analysts expect that Global-e Online will post -0.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Global-e Online

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its position in Global-e Online by 1,236.7% in the second quarter. Goldman Sachs Group Inc. now owns 6,969,582 shares of the company’s stock worth $140,576,000 after buying an additional 6,448,167 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Global-e Online by 33.2% in the 4th quarter. Morgan Stanley now owns 9,819,329 shares of the company’s stock worth $202,671,000 after acquiring an additional 2,446,452 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Global-e Online by 469.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,367,000 shares of the company’s stock worth $55,965,000 after purchasing an additional 1,127,000 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in shares of Global-e Online during the first quarter valued at approximately $35,057,000. Finally, Invesco Ltd. increased its stake in Global-e Online by 198.4% in the third quarter. Invesco Ltd. now owns 1,566,885 shares of the company’s stock worth $62,268,000 after purchasing an additional 1,041,746 shares during the period. Hedge funds and other institutional investors own 59.23% 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.