Global-E Online (NASDAQ:GLBE) Shares Gap Up – Here’s What Happened

Global-E Online Ltd. (NASDAQ:GLBE)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $40.20, but opened at $42.69. Global-E Online shares last traded at $41.15, with a volume of 295,975 shares.

Wall Street Analyst Weigh In

GLBE has been the subject of several research reports. Piper Sandler reaffirmed a “buy” rating on shares of Global-E Online in a research report on Friday, October 18th. KeyCorp dropped their target price on Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a report on Thursday, August 15th. Morgan Stanley lowered Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 target price on the stock. in a report on Friday, October 18th. Finally, UBS Group decreased their target price on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.09.

Global-E Online Stock Up 5.9 %

The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of -61.85 and a beta of 1.10. The stock’s 50-day simple moving average is $37.48 and its 200 day simple moving average is $34.56.

Global-E Online (NASDAQ:GLBE) last posted its earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.03. Global-E Online had a negative net margin of 17.33% and a negative return on equity of 16.41%. The company had revenue of $168.00 million for the quarter, compared to analyst estimates of $165.95 million. During the same period last year, the business posted ($0.22) earnings per share. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Global-E Online Ltd. will post -0.5 earnings per share for the current year.

Institutional Trading of Global-E Online

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sei Investments Co. grew its holdings in Global-E Online by 10.0% during the 1st quarter. Sei Investments Co. now owns 262,603 shares of the company’s stock worth $9,546,000 after acquiring an additional 23,823 shares during the last quarter. Tidal Investments LLC bought a new position in Global-E Online during the first quarter worth about $2,521,000. Capital International Investors boosted its position in Global-E Online by 51.2% during the first quarter. Capital International Investors now owns 1,003,229 shares of the company’s stock worth $36,467,000 after purchasing an additional 339,591 shares during the period. Dragoneer Investment Group LLC lifted its holdings in shares of Global-E Online by 9.6% in the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock worth $534,403,000 after buying an additional 1,288,829 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of Global-E Online in the second quarter worth about $623,000. 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.