Needham & Company LLC Reaffirms “Buy” Rating for Global-E Online (NASDAQ:GLBE)

Needham & Company LLC reiterated their buy rating on shares of Global-E Online (NASDAQ:GLBE) in a report published on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a $48.00 price target on the stock.

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

Global-E Online Trading Down 4.4 %

Shares of Global-E Online stock opened at $29.45 on Tuesday. Global-E Online has a 1-year low of $27.30 and a 1-year high of $45.72. The firm has a fifty day simple moving average of $33.40 and a 200-day simple moving average of $35.65. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of -39.80 and a beta of 1.13.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings results on Monday, May 20th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04. The company had revenue of $145.90 million during the quarter, compared to analysts’ expectations of $141.55 million. Global-E Online had a negative net margin of 20.52% and a negative return on equity of 18.05%. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.26) earnings per share. As a group, research analysts predict that Global-E Online will post -0.44 earnings per share for the current year.

Institutional Investors Weigh In On Global-E Online

Large investors have recently modified their holdings of the stock. ARK Investment Management LLC boosted its stake in Global-E Online by 7.0% in the 4th quarter. ARK Investment Management LLC now owns 1,133,401 shares of the company’s stock valued at $44,917,000 after buying an additional 73,753 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Global-E Online by 344.4% in the 4th quarter. Raymond James & Associates now owns 48,802 shares of the company’s stock worth $1,934,000 after purchasing an additional 37,821 shares during the last quarter. Nikko Asset Management Americas Inc. increased its position in shares of Global-E Online by 10.8% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 2,224,278 shares of the company’s stock worth $88,037,000 after purchasing an additional 217,415 shares in the last quarter. Panagora Asset Management Inc. bought a new position in Global-E Online during the 4th quarter valued at about $2,365,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Global-E Online by 6.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,686,041 shares of the company’s stock valued at $66,818,000 after buying an additional 100,864 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.