Meitav Investment House Ltd. Invests $454,000 in Global-E Online Ltd. (NASDAQ:GLBE)

Meitav Investment House Ltd. acquired a new position in shares of Global-E Online Ltd. (NASDAQ:GLBE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,319 shares of the company’s stock, valued at approximately $454,000.

A number of other hedge funds also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in Global-E Online by 40.7% in the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after purchasing an additional 533,675 shares during the last quarter. Eventide Asset Management LLC lifted its stake in Global-E Online by 59.1% in the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock worth $60,091,000 after purchasing an additional 580,450 shares during the last quarter. State Street Corp lifted its stake in Global-E Online by 3.7% in the third quarter. State Street Corp now owns 1,550,647 shares of the company’s stock worth $59,607,000 after purchasing an additional 55,760 shares during the last quarter. Fred Alger Management LLC bought a new stake in Global-E Online in the third quarter worth $53,493,000. Finally, FMR LLC lifted its stake in Global-E Online by 4.1% in the third quarter. FMR LLC now owns 979,371 shares of the company’s stock worth $37,647,000 after purchasing an additional 38,597 shares during the last quarter. 94.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. KeyCorp boosted their price objective on shares of Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. JMP Securities boosted their price objective on shares of Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a research report on Thursday, November 21st. Raymond James boosted their price objective on shares of Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, Needham & Company LLC boosted their price objective on shares of Global-E Online from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.25.

Global-E Online Stock Down 8.4 %

NASDAQ GLBE opened at $46.63 on Friday. The firm has a market capitalization of $7.66 billion, a PE ratio of -80.40, a P/E/G ratio of 6.37 and a beta of 1.23. The stock’s 50 day moving average is $56.72 and its 200 day moving average is $45.56. Global-E Online Ltd. has a twelve month low of $28.11 and a twelve month high of $63.69.

Global-E Online (NASDAQ:GLBE) last announced its earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $262.91 million for the quarter, compared to analysts’ expectations of $250.96 million. Global-E Online had a negative net margin of 14.68% and a negative return on equity of 15.05%. The company’s quarterly revenue was up 41.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 EPS. On average, research analysts anticipate that Global-E Online Ltd. will post -0.47 earnings per share for the current year.

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.