Benchmark Reaffirms Buy Rating for Global-E Online (NASDAQ:GLBE)

Benchmark reissued their buy rating on shares of Global-E Online (NASDAQ:GLBE) in a report issued on Tuesday, Benzinga reports. Benchmark currently has a $41.00 target price on the stock.

A number of other equities research analysts also recently commented on GLBE. Wells Fargo & Company reiterated an overweight rating and set a $40.00 price objective on shares of Global-E Online in a research report on Monday, April 1st. Bank of America increased their price objective on Global-E Online from $46.00 to $47.00 and gave the stock a buy rating in a report on Tuesday. Piper Sandler reiterated an overweight rating and issued a $50.00 target price on shares of Global-E Online in a research note on Thursday, February 22nd. Needham & Company LLC reiterated a buy rating and set a $48.00 price target on shares of Global-E Online in a research note on Tuesday. Finally, Morgan Stanley upgraded shares of Global-E Online from an equal weight rating to an overweight rating and raised their target price for the company from $33.00 to $37.00 in a research note on Tuesday. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $43.83.

Global-E Online Stock Down 4.4 %

Shares of Global-E Online stock opened at $29.45 on Tuesday. The business has a fifty day simple moving average of $33.40 and a 200-day simple moving average of $35.65. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of -39.80 and a beta of 1.13. Global-E Online has a fifty-two week low of $27.30 and a fifty-two week high of $45.72.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings data on Monday, May 20th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.04. Global-E Online had a negative net margin of 20.52% and a negative return on equity of 18.05%. The company had revenue of $145.90 million during the quarter, compared to analyst estimates of $141.55 million. During the same quarter last year, the firm posted ($0.26) EPS. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. Analysts anticipate that Global-E Online will post -0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

Hedge funds and other institutional investors have recently made changes to their positions in the business. RiverPark Advisors LLC bought a new position in Global-E Online during the third quarter worth about $26,000. Global Retirement Partners LLC lifted its position in shares of Global-E Online by 31.2% during the 1st quarter. Global Retirement Partners LLC now owns 1,650 shares of the company’s stock worth $60,000 after buying an additional 392 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of Global-E Online during the 3rd quarter worth approximately $126,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Global-E Online in the 4th quarter valued at $141,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Global-E Online in the third quarter valued at $175,000. 94.60% of the stock is 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.