Needham & Company LLC Reaffirms Buy Rating for Global-E Online (NASDAQ:GLBE)

Global-E Online (NASDAQ:GLBE)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a report released on Wednesday,Benzinga reports. They presently have a $64.00 target price on the stock. Needham & Company LLC’s target price points to a potential upside of 78.17% from the company’s previous close.

A number of other research firms have also recently weighed in on GLBE. Benchmark cut their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Wells Fargo & Company cut their price objective on shares of Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. The Goldman Sachs Group lifted their price objective on shares of Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a report on Friday, January 10th. Raymond James lifted their price objective on shares of Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Piper Sandler lifted their price objective on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.08.

Global-E Online Price Performance

Shares of Global-E Online stock opened at $35.92 on Wednesday. The firm has a fifty day moving average price of $52.39 and a 200 day moving average price of $46.30. Global-E Online has a 1 year low of $28.11 and a 1 year high of $63.69. The stock has a market cap of $5.90 billion, a PE ratio of -81.64, a price-to-earnings-growth ratio of 4.61 and a beta of 1.30.

Global-E Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) 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 firm had revenue of $262.91 million during the quarter, compared to analysts’ expectations of $250.96 million. During the same quarter last year, the company posted $0.22 earnings per share. The firm’s revenue was up 41.8% compared to the same quarter last year. As a group, equities analysts expect that Global-E Online will post 0.25 EPS for the current year.

Institutional Trading of Global-E Online

Institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp boosted its position in Global-E Online by 69.1% during the fourth 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 holdings in Global-E Online by 1,968.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after purchasing an additional 748 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Global-E Online in the 4th quarter valued at approximately $59,000. Whipplewood Advisors LLC purchased a new stake in shares of Global-E Online in the 4th quarter valued at approximately $65,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Global-E Online in the 3rd quarter valued at approximately $87,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

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.