Global-E Online Ltd. (NASDAQ:GLBE) Given Average Recommendation of “Buy” by Brokerages

Shares of Global-E Online Ltd. (NASDAQ:GLBE) have received a consensus recommendation of “Buy” from the twelve brokerages that are presently covering the stock, MarketBeat reports. Twelve equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have covered the stock in the last year is $51.33.

A number of research analysts have recently commented on the stock. Piper Sandler dropped their target price on shares of Global-E Online from $62.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Benchmark dropped their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. KeyCorp decreased their target price on shares of Global-E Online from $60.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. The Goldman Sachs Group dropped their price target on Global-E Online from $59.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company reduced their price objective on Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th.

Global-E Online Price Performance

Shares of NASDAQ:GLBE opened at $36.11 on Friday. Global-E Online has a 1 year low of $26.64 and a 1 year high of $63.69. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of -82.07, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. The company’s 50 day simple moving average is $36.14 and its 200 day simple moving average is $45.84.

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, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $250.96 million. During the same quarter last year, the company posted $0.22 EPS. The company’s revenue for the quarter was up 41.8% compared to the same quarter last year. As a group, analysts anticipate that Global-E Online will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GLBE. Fifth Third Bancorp lifted its holdings in Global-E Online by 69.1% in the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after buying an additional 197 shares during the period. Daiwa Securities Group Inc. lifted its stake in Global-E Online by 2.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock valued at $436,000 after buying an additional 200 shares during the period. Voya Investment Management LLC boosted its holdings in shares of Global-E Online by 1.3% during the 4th quarter. Voya Investment Management LLC now owns 17,060 shares of the company’s stock worth $930,000 after buying an additional 227 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Global-E Online by 1.6% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company’s stock valued at $908,000 after acquiring an additional 260 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of Global-E Online by 7.1% during the 4th quarter. Mackenzie Financial Corp now owns 6,740 shares of the company’s stock valued at $368,000 after acquiring an additional 448 shares during the period. 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.