Benchmark Issues Pessimistic Forecast for Global-E Online (NASDAQ:GLBE) Stock Price

Global-E Online (NASDAQ:GLBE) had its price objective lowered by research analysts at Benchmark from $68.00 to $64.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price objective would indicate a potential upside of 30.48% from the company’s previous close.

GLBE has been the topic of several other reports. JMP Securities upped their target price on shares of Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 21st. Morgan Stanley lifted their target price on Global-E Online from $52.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday. Jefferies Financial Group upped their price target on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Piper Sandler lifted their price objective on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, KeyCorp increased their price objective on shares of Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Global-E Online has a consensus rating of “Moderate Buy” and a consensus target price of $58.25.

Global-E Online Price Performance

GLBE opened at $49.05 on Thursday. The firm has a 50 day simple moving average of $56.90 and a 200 day simple moving average of $45.55. Global-E Online has a fifty-two week low of $28.11 and a fifty-two week high of $63.69. The company has a market cap of $8.06 billion, a price-to-earnings ratio of -84.82, a price-to-earnings-growth ratio of 6.37 and a beta of 1.23.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $262.91 million during the quarter, compared to analysts’ expectations of $250.96 million. Global-E Online had a negative net margin of 14.68% and a negative return on equity of 15.05%. The business’s revenue for the quarter was up 41.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.22 earnings per share. As a group, analysts expect that Global-E Online will post -0.47 EPS for the current year.

Hedge Funds Weigh In On Global-E Online

Several institutional investors and hedge funds have recently modified their holdings of GLBE. Fifth Third Bancorp boosted its holdings in Global-E Online by 69.1% in the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Global-E Online by 2.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock valued at $436,000 after buying an additional 200 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of Global-E Online by 1.3% in the fourth quarter. Voya Investment Management LLC now owns 17,060 shares of the company’s stock valued at $930,000 after buying an additional 227 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Global-E Online by 1.6% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company’s stock worth $908,000 after buying an additional 260 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in Global-E Online by 4.4% during the 3rd quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock worth $362,000 after acquiring an additional 393 shares during the period. 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.