Analysts Set Global-E Online Ltd. (NASDAQ:GLBE) PT at $43.00

Global-E Online Ltd. (NASDAQ:GLBE) has earned an average recommendation of “Buy” from the eleven ratings firms that are currently covering the company, MarketBeat reports. Eleven research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $43.83.

Several research firms have commented on GLBE. Morgan Stanley upgraded shares of Global-E Online from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $33.00 to $37.00 in a research report on Tuesday. Wells Fargo & Company reiterated an “overweight” rating and set a $40.00 price target on shares of Global-E Online in a report on Monday, April 1st. Benchmark restated a “buy” rating and issued a $41.00 price target on shares of Global-E Online in a report on Tuesday. Piper Sandler restated an “overweight” rating and set a $50.00 price objective on shares of Global-E Online in a report on Thursday, February 22nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $48.00 price target on shares of Global-E Online in a research report on Tuesday.

Global-E Online Trading Down 2.1 %

NASDAQ GLBE opened at $30.04 on Friday. Global-E Online has a 12 month low of $27.30 and a 12 month high of $45.72. The stock’s 50 day moving average is $33.60 and its 200 day moving average is $35.73. The stock has a market cap of $4.93 billion, a PE ratio of -37.09 and a beta of 1.13.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings data on Monday, May 20th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04. The firm had revenue of $145.90 million during the quarter, compared to analyst estimates of $141.55 million. Global-E Online had a negative return on equity of 19.33% and a negative net margin of 23.48%. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.26) earnings per share. On average, analysts forecast that Global-E Online will post -0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Commonwealth Equity Services LLC acquired a new position in Global-E Online during the 3rd quarter valued at about $251,000. Bank of New York Mellon Corp acquired a new position in Global-E Online in the 3rd quarter worth approximately $5,991,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Global-E Online in the third quarter worth $175,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Global-E Online by 21.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,724 shares of the company’s stock worth $2,453,000 after purchasing an additional 10,700 shares during the last quarter. Finally, TD Asset Management Inc purchased a new stake in Global-E Online in the third quarter valued at $892,000. 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.