Global-E Online (NASDAQ:GLBE) PT Lowered to $44.00 at Piper Sandler

Global-E Online (NASDAQ:GLBE) had its price objective trimmed by Piper Sandler from $47.00 to $44.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts also recently commented on GLBE. Needham & Company LLC reaffirmed a buy rating and issued a $48.00 price objective on shares of Global-E Online in a research report on Tuesday, May 21st. Morgan Stanley lifted their price target on Global-E Online from $37.00 to $40.00 and gave the company an overweight rating in a report on Tuesday, July 16th. JMP Securities reiterated a market outperform rating and set a $46.00 price objective on shares of Global-E Online in a report on Wednesday, July 10th. Benchmark restated a buy rating and issued a $41.00 target price on shares of Global-E Online in a report on Tuesday, May 21st. Finally, The Goldman Sachs Group reaffirmed a buy rating and set a $43.00 price target on shares of Global-E Online in a research report on Monday, July 1st. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $42.82.

Global-E Online Trading Up 7.1 %

Shares of GLBE stock opened at $34.56 on Thursday. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of -46.70 and a beta of 1.10. The firm has a 50-day moving average price of $33.96 and a 200 day moving average price of $34.08. Global-E Online has a twelve month low of $27.30 and a twelve month high of $42.88.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. Global-E Online had a negative net margin of 20.52% and a negative return on equity of 18.05%. The business had revenue of $168.00 million during the quarter, compared to analyst estimates of $165.95 million. During the same quarter in the previous year, the business posted ($0.22) earnings per share. The company’s revenue was up 26.0% on a year-over-year basis. As a group, research analysts predict that Global-E Online will post -0.53 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James & Associates raised its holdings in shares of Global-E Online by 344.4% during the 4th quarter. Raymond James & Associates now owns 48,802 shares of the company’s stock valued at $1,934,000 after buying an additional 37,821 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Global-E Online by 2.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,394 shares of the company’s stock valued at $2,512,000 after purchasing an additional 1,670 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Global-E Online by 465.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,879 shares of the company’s stock worth $986,000 after purchasing an additional 20,477 shares in the last quarter. J.W. Cole Advisors Inc. purchased a new position in shares of Global-E Online in the fourth quarter valued at $243,000. Finally, CWM LLC grew its holdings in Global-E Online by 5.5% during the 4th quarter. CWM LLC now owns 13,920 shares of the company’s stock valued at $552,000 after purchasing an additional 730 shares in the last quarter. Institutional investors and hedge funds 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.