Global-E Online (NASDAQ:GLBE) Price Target Raised to $64.00

Global-E Online (NASDAQ:GLBE) had its price target lifted by Needham & Company LLC from $55.00 to $64.00 in a report published on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other brokerages have also recently commented on GLBE. Wells Fargo & Company raised their price target on Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Piper Sandler raised their price objective on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. JMP Securities raised their price objective on Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a research note on Thursday, November 21st. Jefferies Financial Group raised their price objective on Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, Raymond James raised their price objective on Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.58.

Global-E Online Stock Performance

Shares of NASDAQ GLBE opened at $45.07 on Wednesday. Global-E Online has a 52 week low of $28.11 and a 52 week high of $63.69. The stock has a market capitalization of $7.40 billion, a P/E ratio of -102.43, a PEG ratio of 5.03 and a beta of 1.23. The stock’s fifty day moving average is $56.49 and its 200 day moving average is $45.65.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. Global-E Online had a negative return on equity of 8.60% and a negative net margin of 10.04%. The company had revenue of $262.91 million for the quarter, compared to analysts’ expectations of $250.96 million. During the same quarter last year, the business earned $0.22 earnings per share. Global-E Online’s revenue was up 41.8% on a year-over-year basis. Equities research analysts forecast that Global-E Online will post 0.25 earnings per share for the current year.

Institutional Trading of Global-E Online

A number of hedge funds have recently made changes to their positions in GLBE. Fred Alger Management LLC boosted its stake in shares of Global-E Online by 204.6% during the fourth quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company’s stock valued at $231,178,000 after purchasing an additional 2,847,868 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Global-E Online during the fourth quarter valued at about $40,146,000. Norges Bank acquired a new stake in shares of Global-E Online during the fourth quarter valued at about $38,875,000. SG Americas Securities LLC lifted its stake in shares of Global-E Online by 5,939.0% in the fourth quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock worth $34,703,000 after acquiring an additional 625,855 shares during the period. Finally, Eventide Asset Management LLC lifted its stake in shares of Global-E Online by 59.1% in the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock worth $60,091,000 after acquiring an additional 580,450 shares during the period. 94.60% of the stock is owned by institutional investors and hedge funds.

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.