Global-E Online (NASDAQ:GLBE) Stock Price Down 8.2% Following Analyst Downgrade

Shares of Global-E Online Ltd. (NASDAQ:GLBE) were down 8.2% during mid-day trading on Thursday after Benchmark lowered their price target on the stock from $68.00 to $64.00. Benchmark currently has a buy rating on the stock. Global-E Online traded as low as $46.75 and last traded at $46.71. Approximately 2,070,770 shares were traded during mid-day trading, an increase of 46% from the average daily volume of 1,417,560 shares. The stock had previously closed at $50.90.

Several other equities research analysts have also issued reports on the stock. JMP Securities lifted their price target on shares of Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a research note on Thursday, November 21st. Morgan Stanley lifted their price target on shares of Global-E Online from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Tuesday. Raymond James lifted their price target on shares of Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. KeyCorp lifted their price target on shares of Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.25.

Institutional Trading of Global-E Online

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp boosted its holdings 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 worth $368,000 after buying an additional 448 shares during the period. PharVision Advisers LLC bought a new stake in shares of Global-E Online during the 4th quarter worth about $356,000. USS Investment Management Ltd bought a new stake in shares of Global-E Online during the 4th 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 about $14,319,000. Finally, Whitebark Investors LP bought a new stake in shares of Global-E Online during the 4th quarter worth about $17,023,000. Institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Performance

The firm has a market cap of $7.66 billion, a P/E ratio of -80.40, a P/E/G ratio of 6.37 and a beta of 1.23. The firm’s fifty day moving average is $56.72 and its 200 day moving average is $45.56.

Global-E Online (NASDAQ:GLBE) last announced its earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. The business 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 revenue was up 41.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 EPS. As a group, equities research analysts forecast that Global-E Online Ltd. will post -0.47 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.