Benchmark Cuts Global-E Online (NASDAQ:GLBE) Price Target to $64.00

Global-E Online (NASDAQ:GLBE) had its target price reduced by Benchmark from $68.00 to $64.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

GLBE has been the subject of a number of other research reports. Needham & Company LLC boosted their target price on shares of Global-E Online from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday. Raymond James raised their price objective on Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. The Goldman Sachs Group boosted their price objective on shares of Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Wells Fargo & Company lifted their target price on shares of Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Finally, Piper Sandler increased their target price on shares of Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $59.58.

Global-E Online Stock Down 3.3 %

Shares of GLBE stock opened at $45.07 on Thursday. The firm has a market cap of $7.40 billion, a PE ratio of -102.43, a P/E/G ratio of 4.61 and a beta of 1.23. The company’s fifty day simple moving average is $56.49 and its 200-day simple moving average is $45.75. Global-E Online has a 12 month low of $28.11 and a 12 month high of $63.69.

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

Hedge Funds Weigh In On Global-E Online

Several hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp grew its position in shares of Global-E Online by 7.1% during the 4th quarter. Mackenzie Financial Corp now owns 6,740 shares of the company’s stock valued at $368,000 after acquiring an additional 448 shares during the period. PharVision Advisers LLC bought a new position in shares of Global-E Online in the fourth quarter worth $356,000. USS Investment Management Ltd purchased a new position in shares of Global-E Online during the fourth quarter worth about $3,336,000. Voloridge Investment Management LLC bought a new stake in shares of Global-E Online during the 4th quarter worth $14,319,000. Finally, Whitebark Investors LP purchased a new position in shares of Global-E Online during the 4th quarter valued at about $17,023,000. 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.