Global-E Online (NASDAQ:GLBE) Given New $64.00 Price Target at Needham & Company LLC

Global-E Online (NASDAQ:GLBE) had its price target increased by Needham & Company LLC from $55.00 to $64.00 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. JMP Securities increased their target price on shares of Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a report on Thursday, November 21st. KeyCorp boosted their target price on shares of Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Raymond James boosted their price objective on shares of Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Jefferies Financial Group increased their price objective on shares of Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Finally, Morgan Stanley raised their price objective on Global-E Online from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Global-E Online has an average rating of “Moderate Buy” and an average price target of $56.67.

Global-E Online Price Performance

GLBE stock opened at $50.90 on Wednesday. Global-E Online has a 12 month low of $28.11 and a 12 month high of $63.69. The company has a market cap of $8.36 billion, a price-to-earnings ratio of -87.76, a price-to-earnings-growth ratio of 6.47 and a beta of 1.23. The company has a fifty day moving average price of $56.90 and a 200 day moving average price of $45.55.

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 company had revenue of $262.91 million during the quarter, compared to the consensus estimate of $250.96 million. Global-E Online had a negative net margin of 14.68% and a negative return on equity of 15.05%. Global-E Online’s quarterly revenue was up 41.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 EPS. As a group, analysts anticipate that Global-E Online will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GLBE. Fifth Third Bancorp lifted its position 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 last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Global-E Online by 2.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock valued at $436,000 after purchasing an additional 200 shares during the period. Voya Investment Management LLC increased its stake in Global-E Online by 1.3% during the 4th 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 increased its stake in shares of 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 valued at $908,000 after acquiring an additional 260 shares during the period. Finally, CIBC Asset Management Inc increased its position in shares of Global-E Online by 4.4% during the 3rd quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock valued at $362,000 after purchasing an additional 393 shares during the period. 94.60% of the stock is currently owned by institutional investors.

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.