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

Global-E Online Ltd. (NASDAQ:GLBE) has received an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $43.09.

GLBE has been the topic of a number of research reports. KeyCorp lowered their price target on Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Piper Sandler reaffirmed a “buy” rating on shares of Global-E Online in a research note on Friday. UBS Group reduced their price objective on Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday. JMP Securities reaffirmed a “market outperform” rating and set a $46.00 price objective on shares of Global-E Online in a research note on Wednesday, July 10th. Finally, Bank of America reduced their price objective on Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th.

Institutional Trading of Global-E Online

Several large investors have recently modified their holdings of the business. Dragoneer Investment Group LLC grew its stake in shares of Global-E Online by 9.6% in the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock worth $534,403,000 after purchasing an additional 1,288,829 shares during the last quarter. Abdiel Capital Advisors LP grew its stake in shares of Global-E Online by 1.4% in the second quarter. Abdiel Capital Advisors LP now owns 6,776,495 shares of the company’s stock worth $245,783,000 after purchasing an additional 95,741 shares during the last quarter. Capital World Investors boosted its position in Global-E Online by 60.5% during the 1st quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock valued at $181,150,000 after acquiring an additional 1,877,953 shares in the last quarter. Clearbridge Investments LLC purchased a new position in shares of Global-E Online during the 2nd quarter worth approximately $83,036,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Global-E Online by 16.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,956,990 shares of the company’s stock worth $71,137,000 after acquiring an additional 270,949 shares during the period. 94.60% of the stock is owned by institutional investors.

Global-E Online Stock Up 1.2 %

NASDAQ GLBE opened at $38.11 on Monday. The stock’s 50-day simple moving average is $35.93 and its two-hundred day simple moving average is $34.05. Global-E Online has a twelve month low of $27.30 and a twelve month high of $42.88. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of -51.50 and a beta of 1.10.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings results 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 return on equity of 16.41% and a negative net margin of 17.33%. The business had revenue of $168.00 million for the quarter, compared to the consensus estimate of $165.95 million. During the same quarter last year, the business posted ($0.22) earnings per share. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, equities analysts expect that Global-E Online will post -0.5 earnings per share for the current fiscal year.

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.