Benchmark Cuts Global-E Online (NASDAQ:GLBE) Price Target to $55.00

Global-E Online (NASDAQ:GLBE) had its price objective cut by Benchmark from $61.00 to $55.00 in a report released on Tuesday morning, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Several other equities analysts also recently commented on GLBE. UBS Group cut their price objective on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Wells Fargo & Company lowered their target price on shares of Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. KeyCorp reduced their price target 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. Morgan Stanley raised shares of Global-E Online from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $55.00 to $46.00 in a research report on Wednesday, March 26th. Finally, Piper Sandler dropped their target price on shares of Global-E Online from $62.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $49.42.

Global-E Online Trading Down 3.4%

Global-E Online stock opened at $33.11 on Tuesday. The firm has a 50-day moving average price of $35.42 and a 200-day moving average price of $45.78. The firm has a market capitalization of $5.60 billion, a PE ratio of -75.25, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. Global-E Online has a 12-month low of $26.64 and a 12-month high of $63.69.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The company had revenue of $189.88 million for the quarter, compared to analyst estimates of $187.84 million. As a group, sell-side analysts predict that Global-E Online will post 0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

Hedge funds and other institutional investors have recently modified their holdings of the business. TimesSquare Capital Management LLC lifted its holdings in Global-E Online by 6.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 770,999 shares of the company’s stock worth $42,043,000 after buying an additional 45,739 shares during the period. Meitav Investment House Ltd. purchased a new stake in shares of Global-E Online during the 4th quarter worth $454,000. Amundi boosted its position in Global-E Online by 126.9% during the fourth quarter. Amundi now owns 788,542 shares of the company’s stock valued at $41,619,000 after purchasing an additional 440,953 shares in the last quarter. Aigen Investment Management LP purchased a new position in Global-E Online in the fourth quarter valued at about $802,000. Finally, Mount Yale Investment Advisors LLC raised its holdings in Global-E Online by 143.8% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 20,507 shares of the company’s stock worth $1,118,000 after purchasing an additional 12,094 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors.

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.