Global-E Online Ltd. (NASDAQ:GLBE) Given Average Recommendation of “Buy” by Brokerages

Global-E Online Ltd. (NASDAQ:GLBE) has been given an average rating of “Buy” by the eleven brokerages that are currently covering the stock, Marketbeat.com reports. Eleven investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $42.82.

Several equities research analysts recently issued reports on the stock. Piper Sandler cut their target price on shares of Global-E Online from $47.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Needham & Company LLC reiterated a “buy” rating and set a $48.00 target price on shares of Global-E Online in a research note on Thursday, August 15th. The Goldman Sachs Group restated a “buy” rating and issued a $43.00 price target on shares of Global-E Online in a research note on Monday, July 1st. KeyCorp reduced their price objective on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Finally, Morgan Stanley raised their target price on shares of Global-E Online from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Dragoneer Investment Group LLC boosted its stake in shares of Global-E Online by 9.6% in the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after buying an additional 1,288,829 shares during the period. Abdiel Capital Advisors LP lifted its position in shares of Global-E Online by 1.4% during the 2nd quarter. Abdiel Capital Advisors LP now owns 6,776,495 shares of the company’s stock valued at $245,783,000 after acquiring an additional 95,741 shares during the period. Capital World Investors grew its holdings in shares of Global-E Online by 60.5% during the 1st quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock worth $181,150,000 after purchasing an additional 1,877,953 shares in the last quarter. Eventide Asset Management LLC increased its position in shares of Global-E Online by 0.5% in the fourth quarter. Eventide Asset Management LLC now owns 2,464,197 shares of the company’s stock worth $97,656,000 after purchasing an additional 13,350 shares during the period. Finally, Clearbridge Investments LLC acquired a new position in Global-E Online in the second quarter valued at about $83,036,000. 94.60% of the stock is owned by institutional investors.

Global-E Online Stock Performance

Shares of NASDAQ GLBE opened at $37.47 on Thursday. The stock has a market capitalization of $6.15 billion, a PE ratio of -50.64 and a beta of 1.09. Global-E Online has a 52 week low of $27.30 and a 52 week high of $42.88. The stock has a 50 day moving average price of $34.58 and a 200 day moving average price of $33.65.

Global-E Online (NASDAQ:GLBE) last released its earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.03. The business had revenue of $168.00 million during the quarter, compared to analysts’ expectations of $165.95 million. Global-E Online had a negative net margin of 17.33% and a negative return on equity of 16.41%. The firm’s revenue was up 26.0% on a year-over-year basis. During the same period last year, the business earned ($0.22) earnings per share. As a group, research analysts forecast that Global-E Online will post -0.5 EPS for the current year.

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.