Global-E Online Ltd. (NASDAQ:GLBE) Receives Consensus Recommendation of “Buy” from Analysts

Global-E Online Ltd. (NASDAQ:GLBE) has received a consensus rating of “Buy” from the eleven ratings firms that are covering the stock, MarketBeat.com reports. Eleven investment analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $42.82.

A number of research analysts have weighed in on GLBE shares. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 target price on shares of Global-E Online in a report on Thursday, August 15th. Piper Sandler lowered their target price on shares of Global-E Online from $47.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. JMP Securities restated a “market outperform” rating and set a $46.00 price target on shares of Global-E Online in a research report on Wednesday, July 10th. Morgan Stanley boosted their target price on Global-E Online from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $43.00 price target on shares of Global-E Online in a report on Monday, July 1st.

Global-E Online Stock Down 2.0 %

NASDAQ GLBE opened at $37.34 on Thursday. The firm has a market cap of $6.13 billion, a P/E ratio of -50.46 and a beta of 1.09. The company’s 50 day moving average is $34.69 and its 200-day moving average is $33.82. Global-E Online has a 12-month low of $27.30 and a 12-month high of $42.88.

Global-E Online (NASDAQ:GLBE) last posted its earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. The firm had revenue of $168.00 million for the quarter, compared to the consensus estimate of $165.95 million. Global-E Online had a negative return on equity of 16.41% and a negative net margin of 17.33%. The business’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.22) earnings per share. Equities analysts expect that Global-E Online will post -0.5 EPS for the current year.

Institutional Trading of Global-E Online

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dragoneer Investment Group LLC boosted its position in Global-E Online by 9.6% during the 2nd quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after buying an additional 1,288,829 shares during the period. Abdiel Capital Advisors LP boosted its holdings in shares of Global-E Online by 1.4% during the second quarter. Abdiel Capital Advisors LP now owns 6,776,495 shares of the company’s stock worth $245,783,000 after purchasing an additional 95,741 shares during the period. Capital World Investors increased its holdings in 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 purchasing an additional 1,877,953 shares during the period. Eventide Asset Management LLC raised its position in 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 purchasing an additional 13,350 shares during the last quarter. Finally, Clearbridge Investments LLC purchased a new stake in Global-E Online in the 2nd quarter worth approximately $83,036,000. Institutional investors own 94.60% 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.