Global-E Online (NASDAQ:GLBE) Given New $47.00 Price Target at The Goldman Sachs Group

Global-E Online (NASDAQ:GLBE) had its price objective lowered by research analysts at The Goldman Sachs Group from $59.00 to $47.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 24.90% from the company’s previous close.

Other research analysts have also issued research reports about the company. KeyCorp boosted their target price on Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Piper Sandler boosted 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. Morgan Stanley upgraded Global-E Online from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $55.00 to $46.00 in a research note on Wednesday, March 26th. Needham & Company LLC reissued a “buy” rating and set a $64.00 target price on shares of Global-E Online in a research note on Wednesday, March 12th. Finally, Benchmark cut their price target on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Global-E Online presently has a consensus rating of “Buy” and a consensus price target of $57.00.

Global-E Online Price Performance

Shares of NASDAQ:GLBE traded up $1.64 during trading on Wednesday, hitting $37.63. The company had a trading volume of 522,010 shares, compared to its average volume of 1,292,829. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of -85.52, a price-to-earnings-growth ratio of 4.61 and a beta of 1.30. The company has a fifty day simple moving average of $47.82 and a two-hundred day simple moving average of $46.68. Global-E Online has a one year low of $28.11 and a one year high of $63.69.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The company had revenue of $262.91 million during the quarter, compared to the consensus estimate of $250.96 million. During the same period last year, the company earned $0.22 earnings per share. Global-E Online’s revenue was up 41.8% on a year-over-year basis. On average, equities research analysts anticipate that Global-E Online will post 0.25 earnings per share for the current year.

Hedge Funds Weigh In On Global-E Online

Large investors have recently bought and sold shares of the business. Fifth Third Bancorp increased its holdings in shares of Global-E Online by 69.1% in the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after acquiring an additional 197 shares during the period. Geneos Wealth Management Inc. lifted its position in Global-E Online by 1,968.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after acquiring an additional 748 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in Global-E Online in the fourth quarter worth $59,000. Whipplewood Advisors LLC acquired a new position in shares of Global-E Online during the fourth quarter worth $65,000. Finally, Quarry LP lifted its holdings in shares of Global-E Online by 226.1% during the 3rd quarter. Quarry LP now owns 2,286 shares of the company’s stock valued at $88,000 after purchasing an additional 1,585 shares during the last quarter. Institutional investors 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.