Global-E Online (NASDAQ:GLBE) Price Target Lowered to $55.00 at Raymond James

Global-E Online (NASDAQ:GLBE) had its price target reduced by Raymond James from $60.00 to $55.00 in a report published on Thursday,Benzinga reports. Raymond James currently has an outperform rating on the stock.

GLBE has been the subject of several other reports. Morgan Stanley upgraded Global-E Online from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $55.00 to $46.00 in a research report on Wednesday, March 26th. Benchmark dropped their price objective on Global-E Online from $61.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. The Goldman Sachs Group dropped their price objective on Global-E Online from $59.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. KeyCorp dropped their price objective on Global-E Online from $60.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company dropped their price objective on Global-E Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $49.42.

Global-E Online Trading Down 0.2%

Shares of GLBE stock opened at $33.04 on Thursday. The stock has a 50 day moving average of $35.34 and a 200 day moving average of $45.79. The stock has a market cap of $5.59 billion, a P/E ratio of -75.09, a P/E/G ratio of 4.61 and a beta of 1.36. Global-E Online has a twelve month low of $26.64 and a twelve month high of $63.69.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company had revenue of $189.88 million during the quarter, compared to analysts’ expectations of $187.84 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. On average, research analysts predict that Global-E Online will post 0.25 earnings per share for the current fiscal year.

Institutional Trading of Global-E Online

A number of institutional investors have recently made changes to their positions in GLBE. Fifth Third Bancorp boosted its stake in shares of Global-E Online by 69.1% in the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after acquiring an additional 197 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in shares of Global-E Online in the first quarter worth approximately $36,000. Geneos Wealth Management Inc. boosted its stake in shares of Global-E Online by 1,968.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after acquiring an additional 748 shares during the last quarter. Assetmark Inc. acquired a new stake in shares of Global-E Online in the first quarter worth approximately $45,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Global-E Online by 52.9% in the first quarter. Pacer Advisors Inc. now owns 1,410 shares of the company’s stock worth $50,000 after acquiring an additional 488 shares during the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.

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.