Global-E Online (NASDAQ:GLBE) Shares Gap Up – Should You Buy?

Global-E Online Ltd. (NASDAQ:GLBE) shares gapped up before the market opened on Wednesday . The stock had previously closed at $38.26, but opened at $39.49. Global-E Online shares last traded at $37.60, with a volume of 207,080 shares changing hands.

Analysts Set New Price Targets

GLBE has been the subject of several analyst reports. KeyCorp upped their price target on Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Wells Fargo & Company cut their price objective on shares of Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Piper Sandler lifted their target price on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, January 6th. The Goldman Sachs Group boosted their target price on Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Finally, Morgan Stanley upgraded Global-E Online from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $55.00 to $46.00 in a research note on Wednesday. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Global-E Online has an average rating of “Buy” and an average price target of $58.33.

Global-E Online Price Performance

The company has a market cap of $6.03 billion, a price-to-earnings ratio of -83.45, a PEG ratio of 4.61 and a beta of 1.30. The business’s 50-day simple moving average is $49.06 and its 200-day simple moving average is $46.54.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. The firm had revenue of $262.91 million during the quarter, compared to the consensus estimate of $250.96 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The company’s quarterly revenue was up 41.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 EPS. As a group, sell-side analysts forecast that Global-E Online Ltd. will post 0.25 EPS for the current year.

Institutional Trading of Global-E Online

A number of large investors have recently made changes to their positions in the stock. Fred Alger Management LLC lifted its holdings in Global-E Online by 204.6% in the 4th quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company’s stock valued at $231,178,000 after purchasing an additional 2,847,868 shares in the last quarter. Contour Asset Management LLC raised its position in shares of Global-E Online by 9.1% in the fourth quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company’s stock valued at $144,336,000 after buying an additional 220,519 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Global-E Online by 1.5% during the fourth quarter. Clearbridge Investments LLC now owns 2,268,618 shares of the company’s stock valued at $123,708,000 after buying an additional 34,391 shares during the period. JPMorgan Chase & Co. boosted its position in Global-E Online by 40.7% during the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after acquiring an additional 533,675 shares during the last quarter. Finally, Eventide Asset Management LLC grew its stake in Global-E Online by 59.1% in the 3rd quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock worth $60,091,000 after acquiring an additional 580,450 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.

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.