Global-E Online’s (GLBE) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Global-E Online (NASDAQ:GLBE) in a research note issued to investors on Tuesday, MarketBeat reports. The firm currently has a $46.00 price objective on the stock.

GLBE has been the topic of several other research reports. Piper Sandler restated an overweight rating and issued a $50.00 target price on shares of Global-E Online in a research note on Thursday, February 22nd. Bank of America lifted their target price on shares of Global-E Online from $46.00 to $47.00 and gave the company a buy rating in a research note on Tuesday. Morgan Stanley raised Global-E Online from an equal weight rating to an overweight rating and raised their price target for the company from $33.00 to $37.00 in a report on Tuesday. Benchmark reissued a buy rating and issued a $41.00 price objective on shares of Global-E Online in a research note on Tuesday. Finally, Wells Fargo & Company restated an overweight rating and issued a $40.00 target price on shares of Global-E Online in a research note on Monday, April 1st. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of $43.83.

Global-E Online Price Performance

Shares of Global-E Online stock opened at $29.42 on Tuesday. The company’s fifty day moving average price is $33.32 and its two-hundred day moving average price is $35.60. Global-E Online has a 52-week low of $27.30 and a 52-week high of $45.72. The firm has a market capitalization of $4.83 billion, a PE ratio of -39.76 and a beta of 1.13.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings data on Monday, May 20th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04. The company had revenue of $145.90 million for the quarter, compared to the consensus estimate of $141.55 million. Global-E Online had a negative return on equity of 18.05% and a negative net margin of 20.52%. The company’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.26) earnings per share. Analysts predict that Global-E Online will post -0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

Several large investors have recently bought and sold shares of the business. Capital World Investors raised its position in shares of Global-E Online by 581.5% during the 4th quarter. Capital World Investors now owns 3,105,532 shares of the company’s stock valued at $123,072,000 after acquiring an additional 2,649,873 shares during the last quarter. Morgan Stanley increased its holdings in Global-E Online by 18.2% in the third quarter. Morgan Stanley now owns 15,827,478 shares of the company’s stock valued at $628,984,000 after purchasing an additional 2,438,737 shares during the last quarter. Brown Capital Management LLC acquired a new position in Global-E Online in the first quarter valued at about $69,352,000. Contour Asset Management LLC bought a new position in Global-E Online during the fourth quarter worth about $57,816,000. Finally, Invesco Ltd. increased its stake in shares of Global-E Online by 198.4% in the 3rd quarter. Invesco Ltd. now owns 1,566,885 shares of the company’s stock valued at $62,268,000 after acquiring an additional 1,041,746 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

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.