Global-E Online (NASDAQ:GLBE) Price Target Increased to $47.00 by Analysts at Bank of America

Global-E Online (NASDAQ:GLBE) had its price target hoisted by Bank of America from $46.00 to $47.00 in a report published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms also recently issued reports on GLBE. Needham & Company LLC reaffirmed a buy rating and issued a $48.00 target price on shares of Global-E Online in a research report on Friday, April 5th. Piper Sandler reissued an overweight rating and issued a $50.00 price objective on shares of Global-E Online in a report on Thursday, February 22nd. Wells Fargo & Company reaffirmed an overweight rating and set a $40.00 price target on shares of Global-E Online in a research report on Monday, April 1st. Finally, Morgan Stanley upgraded shares of Global-E Online from an equal weight rating to an overweight rating and boosted their price objective for the stock from $33.00 to $37.00 in a research note on Tuesday. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $43.83.

Global-E Online Trading Down 0.1 %

GLBE stock opened at $29.42 on Tuesday. The stock has a market cap of $4.83 billion, a PE ratio of -39.76 and a beta of 1.13. The stock has a 50-day moving average price of $33.32 and a two-hundred day moving average price of $35.60. Global-E Online has a 1 year low of $27.30 and a 1 year high of $45.72.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings results on Monday, May 20th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04. The firm had revenue of $145.90 million during the quarter, compared to the consensus estimate of $141.55 million. Global-E Online had a negative return on equity of 18.05% and a negative net margin of 20.52%. The business’s revenue was up 24.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.26) EPS. On average, analysts forecast that Global-E Online will post -0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

Several institutional investors and hedge funds have recently made changes to their positions in GLBE. Commonwealth Equity Services LLC acquired a new stake in shares of Global-E Online during the third quarter worth $251,000. Bank of New York Mellon Corp bought a new position in Global-E Online during the third quarter worth about $5,991,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Global-E Online in the third quarter valued at approximately $175,000. Yousif Capital Management LLC acquired a new position in Global-E Online in the 3rd quarter valued at $223,000. Finally, Teacher Retirement System of Texas bought a new stake in Global-E Online during the third quarter worth about $293,000. 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.