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 The Goldman Sachs Group from $59.00 to $47.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

GLBE has been the topic of several other reports. Wells Fargo & Company dropped their target price on shares of 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. Benchmark lowered their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. UBS Group reduced their target price on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a report on Friday, February 21st. KeyCorp lifted their price target on Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $64.00 price objective on shares of Global-E Online in a research note on Wednesday, March 12th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Global-E Online currently has an average rating of “Buy” and a consensus price target of $57.00.

Global-E Online Stock Performance

NASDAQ GLBE opened at $37.48 on Wednesday. The stock has a market capitalization of $6.16 billion, a P/E ratio of -85.18, a P/E/G ratio of 4.61 and a beta of 1.30. The business’s fifty day moving average is $47.43 and its two-hundred day moving average is $46.61. Global-E Online has a 1 year low of $28.11 and a 1 year high of $63.69.

Global-E Online (NASDAQ:GLBE) last announced its 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 for the quarter, compared to analyst estimates of $250.96 million. During the same period in the previous year, the firm earned $0.22 earnings per share. Global-E Online’s revenue for the quarter was up 41.8% compared to the same quarter last year. On average, research analysts forecast that Global-E Online will post 0.25 earnings per share for the current year.

Institutional Investors Weigh In On Global-E Online

A number of large investors have recently bought and sold shares of the business. Fred Alger Management LLC lifted its position in shares of Global-E Online by 204.6% in the fourth quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company’s stock worth $231,178,000 after buying an additional 2,847,868 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in Global-E Online in the 4th quarter worth approximately $40,146,000. Norges Bank bought a new stake in Global-E Online during the fourth quarter worth approximately $38,875,000. SG Americas Securities LLC grew its holdings in Global-E Online by 5,939.0% during the fourth quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock valued at $34,703,000 after purchasing an additional 625,855 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Global-E Online by 40.7% in the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock valued at $70,979,000 after purchasing an additional 533,675 shares during the period. 94.60% of the stock is currently owned by institutional investors.

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.