Global-e Online (NASDAQ:GLBE) Releases Earnings Results, Beats Estimates By $0.02 EPS

Global-e Online (NASDAQ:GLBE – Get Rating) released its quarterly earnings results on Monday. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02, MarketWatch Earnings reports. The firm had revenue of $117.60 million for the quarter, compared to the consensus estimate of $111.65 million. Global-e Online had a negative return on equity of 20.08% and a negative net margin of 41.06%. The company’s revenue for the quarter was up 54.1% on a year-over-year basis. During the same period last year, the business posted ($0.05) EPS.

Global-e Online Price Performance

NASDAQ:GLBE opened at $32.80 on Wednesday. The business’s 50-day simple moving average is $29.93 and its two-hundred day simple moving average is $26.30. Global-e Online has a 52 week low of $16.32 and a 52 week high of $37.65.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GLBE. Piper Sandler raised their price target on Global-e Online from $27.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, February 23rd. Needham & Company LLC reiterated a “buy” rating and set a $44.00 target price on shares of Global-e Online in a research report on Thursday, February 23rd. Jefferies Financial Group lifted their target price on Global-e Online from $35.00 to $40.00 in a research report on Monday. KeyCorp lifted their target price on Global-e Online from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, April 5th. Finally, Bank of America lifted their target price on Global-e Online from $36.00 to $42.00 in a research report on Tuesday. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $37.88.

Institutional Investors Weigh In On Global-e Online

A number of institutional investors and hedge funds have recently bought and sold shares of GLBE. Quarry LP raised its holdings in 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 period. Money Concepts Capital Corp bought a new stake in shares of Global-e Online in the fourth quarter worth about $40,000. Rockefeller Capital Management L.P. increased its holdings in shares of Global-e Online by 23.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,025 shares of the company’s stock worth $41,000 after purchasing an additional 378 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Global-e Online in the fourth quarter worth about $53,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Global-e Online in the second quarter worth about $54,000. 61.12% of the stock is owned by institutional investors.

About Global-e Online

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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.