KeyCorp Trims Global-E Online (NASDAQ:GLBE) Target Price to $38.00

Global-E Online (NASDAQ:GLBE) had its target price reduced by investment analysts at KeyCorp from $40.00 to $38.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price would indicate a potential upside of 17.32% from the company’s current price.

A number of other research analysts have also recently commented on the stock. Bank of America decreased their target price on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $48.00 price target on shares of Global-E Online in a research note on Thursday. Morgan Stanley boosted their price target on shares of Global-E Online from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. The Goldman Sachs Group reiterated a “buy” rating and set a $43.00 price target on shares of Global-E Online in a research note on Monday, July 1st. Finally, Piper Sandler cut their price target on shares of Global-E Online from $47.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $42.82.

Global-E Online Stock Up 2.7 %

Shares of NASDAQ:GLBE traded up $0.86 during trading on Thursday, hitting $32.39. 707,893 shares of the stock traded hands, compared to its average volume of 1,172,589. The company has a market cap of $5.32 billion, a price-to-earnings ratio of -43.77 and a beta of 1.10. The company has a fifty day moving average price of $33.82 and a two-hundred day moving average price of $34.19. Global-E Online has a 52-week low of $27.30 and a 52-week high of $42.88.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.03. The company had revenue of $168.00 million during the quarter, compared to analyst estimates of $165.95 million. Global-E Online had a negative net margin of 20.52% and a negative return on equity of 18.05%. The firm’s revenue was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.22) EPS. On average, equities research analysts predict that Global-E Online will post -0.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Global-E Online

Several large investors have recently modified their holdings of GLBE. Raymond James & Associates boosted its holdings in shares of Global-E Online by 344.4% in the fourth quarter. Raymond James & Associates now owns 48,802 shares of the company’s stock valued at $1,934,000 after acquiring an additional 37,821 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Global-E Online by 2.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,394 shares of the company’s stock valued at $2,512,000 after acquiring an additional 1,670 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Global-E Online by 465.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,879 shares of the company’s stock valued at $986,000 after acquiring an additional 20,477 shares during the period. J.W. Cole Advisors Inc. acquired a new stake in shares of Global-E Online in the fourth quarter valued at approximately $243,000. Finally, CWM LLC boosted its holdings in shares of Global-E Online by 5.5% in the fourth quarter. CWM LLC now owns 13,920 shares of the company’s stock valued at $552,000 after acquiring an additional 730 shares during the period. 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.