Global-E Online (NASDAQ:GLBE) Stock Rating Reaffirmed by The Goldman Sachs Group

Global-E Online (NASDAQ:GLBE)‘s stock had its “buy” rating reissued by equities research analysts at The Goldman Sachs Group in a note issued to investors on Monday, Benzinga reports. They currently have a $43.00 price objective on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 18.36% from the company’s previous close.

A number of other brokerages have also recently commented on GLBE. Morgan Stanley raised shares of Global-E Online from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $33.00 to $37.00 in a report on Tuesday, May 21st. Bank of America upped their target price on shares of Global-E Online from $46.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a research note on Tuesday, May 21st. JMP Securities reissued a “market outperform” rating and set a $46.00 target price on shares of Global-E Online in a research report on Tuesday, May 28th. Finally, Benchmark reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Global-E Online in a research report on Tuesday, May 21st. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $43.58.

Global-E Online Price Performance

NASDAQ GLBE opened at $36.33 on Monday. The stock has a market capitalization of $5.97 billion, a P/E ratio of -49.09 and a beta of 1.10. Global-E Online has a 12 month low of $27.30 and a 12 month high of $45.72. The firm’s 50-day moving average is $31.60 and its two-hundred day moving average is $35.10.

Global-E Online (NASDAQ:GLBE) last issued its earnings results on Monday, May 20th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.04. Global-E Online had a negative net margin of 20.52% and a negative return on equity of 18.05%. The firm had revenue of $145.90 million for the quarter, compared to analysts’ expectations of $141.55 million. During the same quarter last year, the company earned ($0.26) earnings per share. The firm’s revenue was up 24.1% compared to the same quarter last year. As a group, analysts anticipate that Global-E Online will post -0.52 EPS for the current year.

Institutional Investors Weigh In On Global-E Online

Several large investors have recently added to or reduced their stakes in the stock. ARK Investment Management LLC increased its holdings in shares of Global-E Online by 7.0% during the fourth quarter. ARK Investment Management LLC now owns 1,133,401 shares of the company’s stock valued at $44,917,000 after purchasing an additional 73,753 shares during the period. Raymond James & Associates increased its holdings in shares of Global-E Online by 344.4% during the fourth quarter. Raymond James & Associates now owns 48,802 shares of the company’s stock valued at $1,934,000 after purchasing an additional 37,821 shares during the period. Contour Asset Management LLC acquired a new position in shares of Global-E Online during the fourth quarter valued at $57,816,000. Nikko Asset Management Americas Inc. increased its holdings in shares of Global-E Online by 10.8% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,224,278 shares of the company’s stock valued at $88,037,000 after purchasing an additional 217,415 shares during the period. Finally, SRS Investment Management LLC acquired a new position in shares of Global-E Online during the fourth quarter valued at $25,071,000. 94.60% of the stock is owned by institutional investors and hedge funds.

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.