Global-E Online (NASDAQ:GLBE) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Global-E Online (NASDAQ:GLBE) in a report issued on Tuesday, MarketBeat reports. They currently have a $46.00 price target on the stock.

A number of other equities research analysts have also recently commented on the stock. Bank of America increased their price target on shares of Global-E Online from $46.00 to $47.00 and gave the company a buy rating in a report on Tuesday. Morgan Stanley raised shares of Global-E Online from an equal weight rating to an overweight rating and boosted their price objective for the company from $33.00 to $37.00 in a report on Tuesday. Wells Fargo & Company reissued an overweight rating and issued a $40.00 target price on shares of Global-E Online in a research report on Monday, April 1st. Benchmark reiterated a buy rating and issued a $41.00 price objective on shares of Global-E Online in a research note on Tuesday. Finally, Piper Sandler restated an overweight rating and set a $50.00 target price on shares of Global-E Online in a research report on Thursday, February 22nd. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Global-E Online has an average rating of Buy and an average price target of $43.83.

Global-E Online Trading Down 0.1 %

Shares of GLBE stock opened at $29.42 on Tuesday. Global-E Online has a 12 month low of $27.30 and a 12 month high of $45.72. The stock has a market cap of $4.83 billion, a PE ratio of -39.76 and a beta of 1.13. The company’s fifty day moving average price is $33.32 and its 200-day moving average price is $35.60.

Global-E Online (NASDAQ:GLBE) last released its earnings results on Monday, May 20th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 20.52% and a negative return on equity of 18.05%. The business’s revenue was up 24.1% on a year-over-year basis. During the same period last year, the business earned ($0.26) earnings per share. On average, sell-side analysts forecast that Global-E Online will post -0.52 earnings per share for the current fiscal year.

Institutional Trading of Global-E Online

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley lifted its position in shares of Global-E Online by 18.2% in the third quarter. Morgan Stanley now owns 15,827,478 shares of the company’s stock worth $628,984,000 after buying an additional 2,438,737 shares in the last quarter. Capital World Investors boosted its position in shares of Global-E Online by 60.5% during the 1st quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock valued at $181,150,000 after acquiring an additional 1,877,953 shares during the last quarter. Eventide Asset Management LLC boosted its position in shares of Global-E Online by 0.5% during the 4th quarter. Eventide Asset Management LLC now owns 2,464,197 shares of the company’s stock valued at $97,656,000 after acquiring an additional 13,350 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Global-E Online by 9.9% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,403,473 shares of the company’s stock valued at $95,250,000 after purchasing an additional 217,482 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. increased its position in Global-E Online by 10.8% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,224,278 shares of the company’s stock worth $88,037,000 after purchasing an additional 217,415 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors.

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.