Royce & Associates LP Takes Position in Global-E Online Ltd. (NASDAQ:GLBE)

Royce & Associates LP acquired a new stake in Global-E Online Ltd. (NASDAQ:GLBE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,200 shares of the company’s stock, valued at approximately $284,000.

Several other institutional investors and hedge funds have also modified their holdings of GLBE. Fifth Third Bancorp raised 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 worth $26,000 after purchasing an additional 197 shares during the period. Geneos Wealth Management Inc. raised its holdings in Global-E Online by 1,968.4% in 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 period. Arcadia Investment Management Corp MI acquired a new position in Global-E Online in the 4th quarter worth about $59,000. Whipplewood Advisors LLC acquired a new position in Global-E Online in the 4th quarter worth about $65,000. Finally, Quarry LP raised its holdings in Global-E Online by 226.1% in the 3rd quarter. Quarry LP now owns 2,286 shares of the company’s stock worth $88,000 after purchasing an additional 1,585 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on GLBE. Piper Sandler upped their price target on Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Morgan Stanley increased their target price on Global-E Online from $52.00 to $55.00 and gave the company an “equal weight” rating in a report on Tuesday, February 18th. UBS Group reduced their target price on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a report on Friday, February 21st. KeyCorp increased their target price on Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, Benchmark reduced their target price on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, February 20th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Global-E Online presently has an average rating of “Moderate Buy” and an average price target of $59.08.

Global-E Online Price Performance

GLBE stock opened at $37.91 on Friday. The business has a 50 day simple moving average of $50.42 and a 200-day simple moving average of $46.41. The firm has a market capitalization of $6.23 billion, a PE ratio of -86.16, a price-to-earnings-growth ratio of 4.61 and a beta of 1.30. Global-E Online Ltd. has a 1 year low of $28.11 and a 1 year high of $63.69.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings results 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 business had revenue of $262.91 million during the quarter, compared to analyst estimates of $250.96 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The business’s revenue was up 41.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 earnings per share. On average, equities research analysts expect that Global-E Online Ltd. will post 0.25 EPS for the current year.

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.