Global-E Online’s (GLBE) “Buy” Rating Reaffirmed at Needham & Company LLC

Global-E Online (NASDAQ:GLBE)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They currently have a $64.00 target price on the stock. Needham & Company LLC’s price target points to a potential upside of 74.24% from the company’s previous close.

Several other brokerages have also recently weighed in on GLBE. Wells Fargo & Company decreased their price objective on Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. JMP Securities boosted their price target on Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 21st. Jefferies Financial Group upped their price objective on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Morgan Stanley raised their target price on shares of Global-E Online from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 18th. Finally, UBS Group dropped their price target 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. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.08.

Global-E Online Stock Performance

Shares of Global-E Online stock opened at $36.73 on Wednesday. Global-E Online has a 52-week low of $28.11 and a 52-week high of $63.69. The business’s 50 day simple moving average is $53.07 and its 200 day simple moving average is $46.43. The firm has a market cap of $6.03 billion, a PE ratio of -83.48, a P/E/G ratio of 4.61 and a beta of 1.30.

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

Institutional Trading of Global-E Online

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp lifted its position in Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after acquiring an additional 197 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Global-E Online by 1,968.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after purchasing an additional 748 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Global-E Online during the 4th quarter worth approximately $59,000. Whipplewood Advisors LLC acquired a new position in Global-E Online in the 4th quarter valued at $65,000. Finally, SBI Securities Co. Ltd. acquired a new position in Global-E Online in the 4th quarter valued at $99,000. Institutional investors own 94.60% of the company’s stock.

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.