Benchmark Cuts Global-E Online (NASDAQ:GLBE) Price Target to $64.00

Global-E Online (NASDAQ:GLBE) had its price target reduced by Benchmark from $68.00 to $64.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

GLBE has been the subject of several other research reports. Morgan Stanley boosted their price objective on Global-E Online from $52.00 to $55.00 and gave the company an “equal weight” rating in a report on Tuesday. Wells Fargo & Company boosted their price target on shares of Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Raymond James upped their price objective on shares of Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. KeyCorp lifted their price objective on shares of Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, JMP Securities upped their target price on shares of Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.25.

Global-E Online Stock Down 8.4 %

Shares of NASDAQ GLBE opened at $46.63 on Thursday. The firm has a market cap of $7.66 billion, a PE ratio of -80.40, a P/E/G ratio of 6.37 and a beta of 1.23. The company’s fifty day simple moving average is $56.72 and its 200 day simple moving average is $45.56. Global-E Online has a 12-month low of $28.11 and a 12-month high of $63.69.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. Global-E Online had a negative net margin of 14.68% and a negative return on equity of 15.05%. The company had revenue of $262.91 million for the quarter, compared to analysts’ expectations of $250.96 million. During the same quarter in the prior year, the firm earned $0.22 EPS. The business’s revenue was up 41.8% on a year-over-year basis. On average, equities analysts predict that Global-E Online will post -0.47 earnings per share for the current year.

Institutional Investors Weigh In On Global-E Online

A number of institutional investors have recently added to or reduced their stakes in GLBE. Fred Alger Management LLC boosted its stake in shares of Global-E Online by 204.6% in the 4th quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company’s stock worth $231,178,000 after buying an additional 2,847,868 shares during the last quarter. Contour Asset Management LLC boosted its position in Global-E Online by 9.1% in the fourth quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company’s stock worth $144,336,000 after purchasing an additional 220,519 shares during the last quarter. Clearbridge Investments LLC grew its stake in Global-E Online by 1.5% in the 4th quarter. Clearbridge Investments LLC now owns 2,268,618 shares of the company’s stock valued at $123,708,000 after purchasing an additional 34,391 shares during the period. JPMorgan Chase & Co. grew its stake in Global-E Online by 40.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock valued at $70,979,000 after purchasing an additional 533,675 shares during the period. Finally, Eventide Asset Management LLC increased its position in shares of Global-E Online by 59.1% during the 3rd quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock valued at $60,091,000 after purchasing an additional 580,450 shares during the last quarter. 94.60% of the stock is owned by institutional investors.

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.