Bayforest Capital Ltd Takes Position in Global-e Online Ltd. (NASDAQ:GLBE)

Key Points

• Bayforest Capital Ltd has acquired a $611,000 stake in Global-e Online Ltd., buying 17,152 shares during the first quarter.
• Global-e Online's recent earnings report showed a revenue increase of 30.2% year-over-year, with a quarterly EPS of ($0.11), beating expectations.
• Wall Street analysts maintain a positive outlook for Global-e Online, with an average rating of "Moderate Buy" and a price target of $48.08.

Bayforest Capital Ltd bought a new stake in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 17,152 shares of the company's stock, valued at approximately $611,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new position in Global-e Online during the first quarter worth approximately $1,165,000. Sphera Management Technology Funds Ltd purchased a new position in shares of Global-e Online in the 4th quarter worth $1,636,000. Ethic Inc. purchased a new stake in Global-e Online during the fourth quarter valued at about $428,000. Noked Israel Ltd grew its position in Global-e Online by 68.5% during the fourth quarter. Noked Israel Ltd now owns 252,818 shares of the company's stock valued at $13,786,000 after acquiring an additional 102,818 shares during the period. Finally, Barton Investment Management increased its stake in Global-e Online by 3.4% during the first quarter. Barton Investment Management now owns 1,036,767 shares of the company's stock worth $36,961,000 after acquiring an additional 34,080 shares during the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Global-e Online Stock Down 2.8%

Shares of Global-e Online stock traded down $0.97 during midday trading on Wednesday, hitting $33.21. The company's stock had a trading volume of 958,755 shares, compared to its average volume of 1,232,623. Global-e Online Ltd. has a 1-year low of $26.64 and a 1-year high of $63.69. The firm has a market capitalization of $5.64 billion, a P/E ratio of -92.25, a PEG ratio of 2.03 and a beta of 1.25. The stock has a 50-day simple moving average of $32.95 and a 200-day simple moving average of $39.56.

Global-e Online (NASDAQ:GLBE - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.02. Global-e Online had a negative return on equity of 6.96% and a negative net margin of 7.70%. The business had revenue of $189.88 million for the quarter, compared to the consensus estimate of $187.84 million. During the same period last year, the business earned ($0.19) EPS. The firm's revenue was up 30.2% compared to the same quarter last year. As a group, sell-side analysts predict that Global-e Online Ltd. will post 0.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GLBE. JMP Securities reiterated a "market outperform" rating and set a $64.00 target price on shares of Global-e Online in a report on Thursday, May 15th. Benchmark decreased their price objective on shares of Global-e Online from $61.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Raymond James Financial dropped their price objective on shares of Global-e Online from $60.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, May 15th. Wells Fargo & Company decreased their price target on shares of Global-e Online from $45.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday, May 15th. Finally, The Goldman Sachs Group cut their price objective on Global-e Online from $59.00 to $47.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $48.08.

Global-e Online 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.