Wells Fargo & Company Has Lowered Expectations for Global-E Online (NASDAQ:GLBE) Stock Price

Global-E Online (NASDAQ:GLBE) had its price target lowered by investment analysts at Wells Fargo & Company from $60.00 to $54.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 37.33% from the stock’s previous close.

A number of other research analysts also recently issued reports on GLBE. The Goldman Sachs Group boosted their target price on shares of Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Jefferies Financial Group boosted their target price on Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Needham & Company LLC upped their target price on Global-E Online from $55.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Piper Sandler raised their price objective on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Benchmark decreased their price target on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.08.

Global-E Online Stock Performance

Shares of NASDAQ:GLBE opened at $39.32 on Wednesday. The firm has a market cap of $6.46 billion, a PE ratio of -89.36, a price-to-earnings-growth ratio of 4.61 and a beta of 1.30. The firm’s fifty day moving average is $54.09 and its 200-day moving average is $46.20. Global-E Online has a 52 week low of $28.11 and a 52 week high of $63.69.

Global-E Online (NASDAQ:GLBE) last released its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $262.91 million during the quarter, compared to the consensus estimate of $250.96 million. During the same quarter in the prior year, the firm posted $0.22 EPS. The company’s revenue for the quarter was up 41.8% compared to the same quarter last year. Sell-side analysts forecast that Global-E Online will post 0.25 EPS for the current year.

Institutional Trading of Global-E Online

Several hedge funds have recently added to or reduced their stakes in GLBE. Fifth Third Bancorp increased its holdings in Global-E Online by 69.1% in the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after acquiring an additional 197 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Global-E Online by 1,968.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after buying an additional 748 shares during the period. Capital Performance Advisors LLP purchased a new stake in Global-E Online in the third quarter valued at approximately $32,000. Arcadia Investment Management Corp MI bought a new stake in shares of Global-E Online during the 4th quarter worth $59,000. Finally, Whipplewood Advisors LLC purchased a new position in Global-E Online in the fourth quarter worth $65,000. 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.