Global-E Online Ltd. (NASDAQ:GLBE) Receives $43.83 Consensus Target Price from Brokerages

Shares of Global-E Online Ltd. (NASDAQ:GLBEGet Free Report) have been given a consensus recommendation of “Buy” by the eleven ratings firms that are currently covering the firm, MarketBeat.com reports. Eleven research analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $43.83.

Several research analysts have recently commented on GLBE shares. Wells Fargo & Company restated an “overweight” rating and set a $40.00 price target on shares of Global-E Online in a research report on Monday, April 1st. 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 report on Tuesday, May 21st. Needham & Company LLC reissued a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a research note on Tuesday, May 21st. Bank of America raised their price target on Global-E Online from $46.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $50.00 target price on shares of Global-E Online in a research note on Thursday, February 22nd.

View Our Latest Stock Report on Global-E Online

Global-E Online Stock Performance

Shares of GLBE opened at $31.66 on Tuesday. The firm’s 50 day moving average price is $31.76 and its 200 day moving average price is $35.32. Global-E Online has a twelve month low of $27.30 and a twelve month high of $45.72. The firm has a market cap of $5.20 billion, a PE ratio of -42.78 and a beta of 1.07.

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

Institutional Trading of Global-E Online

Several institutional investors and hedge funds have recently bought and sold shares of the stock. ARK Investment Management LLC lifted its stake in Global-E Online by 7.0% in the fourth quarter. ARK Investment Management LLC now owns 1,133,401 shares of the company’s stock valued at $44,917,000 after acquiring an additional 73,753 shares during the last quarter. Raymond James & Associates lifted its position in Global-E Online by 344.4% during the fourth quarter. Raymond James & Associates now owns 48,802 shares of the company’s stock worth $1,934,000 after acquiring an additional 37,821 shares during the last quarter. Contour Asset Management LLC bought a new position in shares of Global-E Online during the fourth quarter worth approximately $57,816,000. Nikko Asset Management Americas Inc. lifted its holdings in Global-E Online by 10.8% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 2,224,278 shares of the company’s stock worth $88,037,000 after purchasing an additional 217,415 shares during the last quarter. Finally, SRS Investment Management LLC bought a new stake in Global-E Online in the 4th quarter valued at $25,071,000. Institutional investors own 94.60% of the company’s stock.

About Global-E Online

(Get Free Report

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.

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Analyst Recommendations for Global-E Online (NASDAQ:GLBE)

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