Global-E Online (NASDAQ:GLBE) Trading Up 2.3%

Global-E Online Ltd. (NASDAQ:GLBEGet Free Report) shares were up 2.3% during mid-day trading on Friday . The company traded as high as $31.84 and last traded at $31.80. Approximately 85,141 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 1,190,911 shares. The stock had previously closed at $31.08.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GLBE shares. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a report on Tuesday, May 21st. Bank of America increased their target price on Global-E Online from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Wells Fargo & Company reiterated an “overweight” rating and issued a $40.00 target price on shares of Global-E Online in a report on Monday, April 1st. JMP Securities reiterated a “market outperform” rating and issued a $46.00 target price on shares of Global-E Online in a report on Tuesday, May 28th. Finally, Morgan Stanley upgraded Global-E Online from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $33.00 to $37.00 in a report on Tuesday, May 21st. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $43.83.

View Our Latest Stock Analysis on GLBE

Global-E Online Stock Performance

The company has a market capitalization of $5.21 billion, a P/E ratio of -42.00 and a beta of 1.07. The stock has a 50 day moving average price of $31.89 and a 200 day moving average price of $35.33.

Global-E Online (NASDAQ:GLBEGet Free Report) last released its earnings results on Monday, May 20th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04. The company had revenue of $145.90 million for the quarter, compared to analysts’ expectations of $141.55 million. Global-E Online had a negative return on equity of 18.05% and a negative net margin of 20.52%. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.26) EPS. As a group, sell-side analysts expect that Global-E Online Ltd. will post -0.52 earnings per share for the current year.

Institutional Investors Weigh In On Global-E Online

A number of hedge funds have recently made changes to their positions in GLBE. DekaBank Deutsche Girozentrale increased its holdings in Global-E Online by 18.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after acquiring an additional 624 shares during the last quarter. Tidal Investments LLC bought a new stake in Global-E Online in the 1st quarter valued at about $2,521,000. California State Teachers Retirement System raised its stake in Global-E Online by 12.4% in the 1st quarter. California State Teachers Retirement System now owns 127,869 shares of the company’s stock valued at $4,648,000 after acquiring an additional 14,139 shares during the period. Kodai Capital Management LP raised its stake in Global-E Online by 184.9% in the 1st quarter. Kodai Capital Management LP now owns 1,307,194 shares of the company’s stock valued at $47,517,000 after acquiring an additional 848,375 shares during the period. Finally, Silvercrest Asset Management Group LLC bought a new stake in Global-E Online in the 1st quarter valued at about $480,000. 94.60% of the stock is currently owned by institutional investors.

About Global-E Online

(Get Free Report)

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.

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