Global-E Online (NASDAQ:GLBE) PT Lowered to $48.00 at UBS Group

Global-E Online (NASDAQ:GLBE) had its target price dropped by research analysts at UBS Group from $50.00 to $48.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price target would suggest a potential upside of 25.98% from the stock’s previous close.

GLBE has been the subject of a number of other reports. KeyCorp dropped their price objective on Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Morgan Stanley downgraded Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price target for the company. in a report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 price target on shares of Global-E Online in a report on Thursday, August 15th. The Goldman Sachs Group reiterated a “buy” rating and issued a $43.00 price target on shares of Global-E Online in a report on Monday, July 1st. Finally, Piper Sandler lowered their price target on Global-E Online from $47.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.09.

Global-E Online Stock Up 1.2 %

Shares of GLBE stock traded up $0.45 on Friday, reaching $38.10. 90,195 shares of the stock were exchanged, compared to its average volume of 1,108,029. The stock has a market cap of $6.26 billion, a P/E ratio of -51.49 and a beta of 1.10. The firm has a 50 day moving average of $35.84 and a two-hundred day moving average of $34.04. Global-E Online has a 1-year low of $27.30 and a 1-year high of $42.88.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The business had revenue of $168.00 million during the quarter, compared to the consensus estimate of $165.95 million. Global-E Online had a negative return on equity of 16.41% and a negative net margin of 17.33%. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.22) EPS. On average, equities research analysts predict that Global-E Online will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank bought a new position in shares of Global-E Online during the second quarter worth about $40,000. RiverPark Advisors LLC lifted its position in shares of Global-E Online by 360.9% during the first quarter. RiverPark Advisors LLC now owns 3,650 shares of the company’s stock worth $133,000 after purchasing an additional 2,858 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Global-E Online by 18.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after purchasing an additional 624 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Global-E Online by 15.2% during the first quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock worth $215,000 after purchasing an additional 780 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Global-E Online during the second quarter worth about $220,000. 94.60% of the stock is owned by hedge funds and other 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.