Lombard Odier Asset Management USA Corp Raises Position in Global-E Online Ltd. (NASDAQ:GLBE)

Lombard Odier Asset Management USA Corp grew its stake in Global-E Online Ltd. (NASDAQ:GLBE) by 6.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,782 shares of the company’s stock after purchasing an additional 632 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in Global-E Online were worth $391,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Contour Asset Management LLC bought a new stake in Global-E Online in the fourth quarter worth $57,816,000. SRS Investment Management LLC bought a new stake in shares of Global-E Online in the 4th quarter worth about $25,071,000. Bain Capital Public Equity Management II LLC boosted its stake in shares of Global-E Online by 76.2% during the 4th quarter. Bain Capital Public Equity Management II LLC now owns 992,842 shares of the company’s stock worth $39,346,000 after purchasing an additional 429,367 shares during the period. Sei Investments Co. grew its holdings in Global-E Online by 10.0% during the 1st quarter. Sei Investments Co. now owns 262,603 shares of the company’s stock valued at $9,546,000 after purchasing an additional 23,823 shares during the last quarter. Finally, Tidal Investments LLC purchased a new stake in Global-E Online in the 1st quarter worth about $2,521,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on GLBE shares. Bank of America dropped their target price on Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. KeyCorp cut their price objective on Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Morgan Stanley increased their target price on Global-E Online from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Piper Sandler lowered 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. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $43.00 price target on shares of Global-E Online in a report on Monday, July 1st. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $42.82.

Global-E Online Price Performance

NASDAQ:GLBE opened at $38.05 on Monday. Global-E Online Ltd. has a 1-year low of $27.30 and a 1-year high of $42.88. The company has a 50-day moving average of $34.62 and a 200 day moving average of $33.73. The firm has a market cap of $6.25 billion, a PE ratio of -51.42 and a beta of 1.09.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.03. The firm 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 company’s revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.22) EPS. Sell-side analysts anticipate that Global-E Online Ltd. will post -0.5 EPS for the current fiscal 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.