Global-E Online Ltd. (NASDAQ:GLBE) Given Average Recommendation of "Buy" by Brokerages
Shares of Global-E Online Ltd. (NASDAQ:GLBE - Get Free Report) have been assigned an average recommendation of "Buy" from the twelve ratings firms that are presently covering the stock, Marketbeat Ratings reports. Twelve analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $57.00.
Several equities research analysts have commented on GLBE shares. Wells Fargo & Company cut their target price on Global-E Online from $60.00 to $54.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. KeyCorp increased their target price on shares of Global-E Online from $55.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Morgan Stanley upgraded shares of Global-E Online from an "equal weight" rating to an "overweight" rating and lowered their price target for the company from $55.00 to $46.00 in a research note on Wednesday, March 26th. Needham & Company LLC restated a "buy" rating and set a $64.00 price objective on shares of Global-E Online in a research note on Wednesday, March 12th. Finally, Piper Sandler raised their price objective on Global-E Online from $63.00 to $66.00 and gave the company an "overweight" rating in a report on Monday, January 6th.
Read Our Latest Stock Analysis on GLBE
A number of institutional investors have recently made changes to their positions in GLBE. Fifth Third Bancorp increased its holdings in shares of Global-E Online by 69.1% in the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company's stock valued at $26,000 after purchasing an additional 197 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Global-E Online by 2.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company's stock valued at $436,000 after buying an additional 200 shares during the last quarter. Voya Investment Management LLC raised its holdings in Global-E Online by 1.3% in the 4th quarter. Voya Investment Management LLC now owns 17,060 shares of the company's stock valued at $930,000 after acquiring an additional 227 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Global-E Online by 1.6% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company's stock valued at $908,000 after acquiring an additional 260 shares during the period. Finally, Mackenzie Financial Corp lifted its position in Global-E Online by 7.1% during the fourth quarter. Mackenzie Financial Corp now owns 6,740 shares of the company's stock worth $368,000 after acquiring an additional 448 shares during the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.
Shares of GLBE stock opened at $29.18 on Monday. Global-E Online has a 12-month low of $28.11 and a 12-month high of $63.69. The firm has a fifty day moving average of $46.39 and a 200-day moving average of $46.58. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of -66.32, a P/E/G ratio of 4.61 and a beta of 1.36.
Global-E Online (NASDAQ:GLBE - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.02. The firm had revenue of $262.91 million during the quarter, compared to analyst estimates of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The company's revenue for the quarter was up 41.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 EPS. On average, equities analysts expect that Global-E Online will post 0.25 EPS for the current year.
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.
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