Global-E Online (NASDAQ:GLBE) Coverage Initiated by Analysts at Truist Financial

Truist Financial started coverage on shares of Global-E Online (NASDAQ:GLBE) in a research note published on Monday, Marketbeat.com reports. The brokerage issued a sell rating and a $31.00 price target on the stock.

A number of other equities analysts have also recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of Global-E Online in a research report on Thursday, May 15th. Wells Fargo & Company decreased their target price on shares of Global-E Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, May 15th. Benchmark decreased their target price on shares of Global-E Online from $61.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Piper Sandler reiterated an “overweight” rating and issued a $42.00 target price on shares of Global-E Online in a research report on Wednesday, May 14th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $64.00 target price on shares of Global-E Online in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Global-E Online Stock Performance

NASDAQ GLBE opened at $33.90 on Monday. Global-E Online has a 52-week low of $26.64 and a 52-week high of $63.69. The company has a market capitalization of $5.75 billion, a P/E ratio of -77.05, a P/E/G ratio of 4.61 and a beta of 1.36. The company has a fifty day moving average of $34.02 and a 200-day moving average of $45.04.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The company had revenue of $189.88 million during the quarter, compared to the consensus estimate of $187.84 million. During the same period in the previous year, the firm posted ($0.19) EPS. The firm’s revenue was up 30.2% compared to the same quarter last year. As a group, analysts forecast that Global-E Online will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

A number of hedge funds have recently modified their holdings of the company. Fifth Third Bancorp increased its position in shares of Global-E Online by 69.1% in the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after acquiring an additional 197 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Global-E Online by 2.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock valued at $436,000 after acquiring an additional 200 shares during the period. Voya Investment Management LLC increased its position in shares of Global-E Online by 1.3% in the fourth quarter. Voya Investment Management LLC now owns 17,060 shares of the company’s stock valued at $930,000 after acquiring an additional 227 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Global-E Online by 1.6% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company’s stock valued at $908,000 after acquiring an additional 260 shares during the period. Finally, Mackenzie Financial Corp increased its position in shares of Global-E Online by 7.1% in the fourth quarter. Mackenzie Financial Corp now owns 6,740 shares of the company’s stock valued at $368,000 after acquiring an additional 448 shares during the period. Hedge funds and other 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.