Global-E Online (NASDAQ:GLBE) Reaches New 52-Week Low – What’s Next?

Shares of Global-E Online Ltd. (NASDAQ:GLBE) reached a new 52-week low during trading on Monday . The stock traded as low as $26.64 and last traded at $26.90, with a volume of 272737 shares trading hands. The stock had previously closed at $29.18.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GLBE. Needham & Company LLC restated a “buy” rating and issued a $64.00 target price on shares of Global-E Online in a report on Wednesday, March 12th. Benchmark dropped their price target on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Morgan Stanley upgraded Global-E Online from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $55.00 to $46.00 in a research report on Wednesday, March 26th. Wells Fargo & Company dropped their target price on Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group decreased their price target on Global-E Online from $59.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $57.00.

Global-E Online Stock Down 0.1 %

The stock’s 50 day moving average price is $46.39 and its 200-day moving average price is $46.58. The stock has a market capitalization of $4.93 billion, a PE ratio of -66.42, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. The company had revenue of $262.91 million for the quarter, compared to analysts’ expectations of $250.96 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. Global-E Online’s revenue was up 41.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.22 earnings per share. As a group, sell-side analysts predict that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

Hedge funds and other institutional investors have recently modified their holdings of the business. Fifth Third Bancorp raised its stake in Global-E Online by 69.1% in the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after buying an additional 197 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Global-E Online by 1,968.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after buying an additional 748 shares during the period. Arcadia Investment Management Corp MI purchased a new position in Global-E Online in the 4th quarter worth $59,000. Whipplewood Advisors LLC acquired a new stake in Global-E Online during the 4th quarter worth about $65,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Global-E Online during the 4th quarter valued at about $99,000. 94.60% of the stock is currently owned by institutional investors.

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.