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 position in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,152 shares of the company's stock, valued at approximately $611,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Voya Investment Management LLC boosted its stake in shares of Global-e Online by 1.3% in the 4th quarter. Voya Investment Management LLC now owns 17,060 shares of the company's stock valued at $930,000 after purchasing an additional 227 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Global-e Online by 7.1% in the 4th quarter. Mackenzie Financial Corp now owns 6,740 shares of the company's stock valued at $368,000 after purchasing an additional 448 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Global-e Online by 52.9% in the 1st quarter. Pacer Advisors Inc. now owns 1,410 shares of the company's stock valued at $50,000 after purchasing an additional 488 shares in the last quarter. Yousif Capital Management LLC boosted its stake in shares of Global-e Online by 10.7% in the 1st quarter. Yousif Capital Management LLC now owns 6,054 shares of the company's stock valued at $216,000 after purchasing an additional 584 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Global-e Online by 1.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 36,505 shares of the company's stock valued at $1,991,000 after purchasing an additional 630 shares in the last quarter. Institutional investors own 94.60% of the company's stock.

Global-e Online Trading Down 5.2%

Shares of GLBE stock traded down $1.73 on Friday, reaching $31.42. The company had a trading volume of 1,612,930 shares, compared to its average volume of 1,236,561. The stock has a market cap of $5.33 billion, a PE ratio of -87.28, a PEG ratio of 1.97 and a beta of 1.25. The company has a 50-day moving average of $32.97 and a 200-day moving average of $39.26. Global-e Online Ltd. has a 12 month low of $26.64 and a 12 month high of $63.69.

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 (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $187.84 million. During the same period in the previous year, the firm earned ($0.19) EPS. Global-e Online's quarterly revenue was up 30.2% compared to the same quarter last year. Sell-side analysts anticipate that Global-e Online Ltd. will post 0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GLBE. Benchmark reduced their target price on shares of Global-e Online from $61.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company reduced their price target on shares of Global-e Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. JMP Securities reiterated a "market outperform" rating and set a $64.00 price target on shares of Global-e Online in a research report on Thursday, May 15th. Truist Financial upped their price target on shares of Global-e Online from $31.00 to $32.00 and gave the stock a "sell" rating in a research report on Thursday, July 17th. Finally, Raymond James Financial reduced their price target on shares of Global-e Online from $60.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target 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.