Global-E Online (NASDAQ:GLBE) Price Target Cut to $47.00 by Analysts at The Goldman Sachs Group

Global-E Online (NASDAQ:GLBE) had its target price decreased by The Goldman Sachs Group from $59.00 to $47.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

GLBE has been the subject of several other reports. Wells Fargo & Company decreased their price target on shares of Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. UBS Group decreased their target price on shares of 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. Benchmark dropped their price target on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Morgan Stanley upgraded shares of Global-E Online from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $55.00 to $46.00 in a research note on Wednesday, March 26th. Finally, Piper Sandler upped 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. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Global-E Online has a consensus rating of “Buy” and a consensus target price of $57.00.

Global-E Online Stock Performance

NASDAQ:GLBE opened at $37.48 on Wednesday. The firm’s 50-day moving average is $47.43 and its 200-day moving average is $46.61. The company has a market cap of $6.16 billion, a price-to-earnings ratio of -85.18, a PEG ratio of 4.61 and a beta of 1.30. Global-E Online has a 52-week low of $28.11 and a 52-week high of $63.69.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The firm had revenue of $262.91 million for the quarter, compared to analyst estimates of $250.96 million. During the same period in the previous year, the company posted $0.22 earnings per share. The company’s quarterly revenue was up 41.8% compared to the same quarter last year. Equities analysts predict that Global-E Online will post 0.25 EPS for the current year.

Hedge Funds Weigh In On Global-E Online

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Fred Alger Management LLC increased its stake in shares of Global-E Online by 204.6% in the fourth quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company’s stock valued at $231,178,000 after buying an additional 2,847,868 shares in the last quarter. Contour Asset Management LLC increased its position in Global-E Online by 9.1% in the 4th quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company’s stock valued at $144,336,000 after acquiring an additional 220,519 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Global-E Online by 1.5% in the fourth quarter. Clearbridge Investments LLC now owns 2,268,618 shares of the company’s stock worth $123,708,000 after acquiring an additional 34,391 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Global-E Online by 40.7% during the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after purchasing an additional 533,675 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Global-E Online by 3.7% during the third quarter. State Street Corp now owns 1,550,647 shares of the company’s stock valued at $59,607,000 after purchasing an additional 55,760 shares during the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.

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.