Global-E Online Sees Unusually Large Options Volume (NASDAQ:GLBE)

Global-E Online Ltd. (NASDAQ:GLBE) saw unusually large options trading on Monday. Stock investors bought 8,534 call options on the company. This is an increase of approximately 609% compared to the average daily volume of 1,204 call options.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Bank of America cut their price objective on Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. JMP Securities reiterated a “market outperform” rating and issued a $46.00 price target on shares of Global-E Online in a report on Wednesday, July 10th. Needham & Company LLC restated a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a research note on Thursday, August 15th. The Goldman Sachs Group reiterated a “buy” rating and issued a $43.00 price objective on shares of Global-E Online in a research note on Monday, July 1st. Finally, KeyCorp decreased their target price on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Global-E Online has a consensus rating of “Buy” and an average target price of $42.82.

Institutional Trading of Global-E Online

A number of institutional investors and hedge funds have recently modified their holdings of GLBE. Principal Financial Group Inc. increased its position in shares of Global-E Online by 5.7% during the first quarter. Principal Financial Group Inc. now owns 6,881 shares of the company’s stock worth $250,000 after purchasing an additional 369 shares in the last quarter. American International Group Inc. grew its holdings in shares of Global-E Online by 3.2% during the first quarter. American International Group Inc. now owns 15,619 shares of the company’s stock worth $568,000 after buying an additional 484 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Global-E Online by 7.4% in the second quarter. Daiwa Securities Group Inc. now owns 7,300 shares of the company’s stock valued at $265,000 after buying an additional 500 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Global-E Online by 6.5% in the second quarter. CIBC Asset Management Inc now owns 9,027 shares of the company’s stock worth $327,000 after buying an additional 547 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in Global-E Online by 18.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after acquiring an additional 624 shares during the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Up 1.0 %

GLBE stock opened at $38.48 on Tuesday. Global-E Online has a 52-week low of $27.30 and a 52-week high of $42.88. The firm has a market cap of $6.32 billion, a P/E ratio of -52.00 and a beta of 1.10. The company’s 50-day simple moving average is $35.56 and its 200-day simple moving average is $33.97.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. Global-E Online had a negative return on equity of 16.41% and a negative net margin of 17.33%. The business had revenue of $168.00 million during the quarter, compared to analysts’ expectations of $165.95 million. During the same period in the previous year, the business earned ($0.22) earnings per share. The business’s revenue was up 26.0% compared to the same quarter last year. On average, analysts anticipate that Global-E Online will post -0.5 earnings per share for the current fiscal year.

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.