Cedar Wealth Management LLC Has $571,000 Stake in Global-e Online Ltd. (NASDAQ:GLBE)

Key Points

• Cedar Wealth Management LLC has reduced its stake in Global-e Online Ltd. by 44%, resulting in ownership of 16,006 shares valued at $571,000.
• Analysts have set a consensus price target of $48.08 for Global-e Online, with ratings ranging from sell to buy across various analysts.
• Global-e Online reported a 30.2% increase in quarterly revenue year-over-year, achieving $189.88 million despite posting a loss of $0.11 earnings per share, surpassing expectations.

Cedar Wealth Management LLC lowered its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 44.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 16,006 shares of the company's stock after selling 12,576 shares during the period. Cedar Wealth Management LLC's holdings in Global-e Online were worth $571,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Berbice Capital Management LLC acquired a new position in shares of Global-e Online during the first quarter valued at about $36,000. Assetmark Inc. acquired a new position in shares of Global-e Online during the first quarter valued at about $45,000. Pacer Advisors Inc. raised its position in shares of Global-e Online by 52.9% during the first quarter. Pacer Advisors Inc. now owns 1,410 shares of the company's stock valued at $50,000 after buying an additional 488 shares during the last quarter. Siemens Fonds Invest GmbH bought a new stake in Global-e Online in the fourth quarter valued at about $124,000. Finally, PNC Financial Services Group Inc. raised its position in Global-e Online by 32.4% in the first quarter. PNC Financial Services Group Inc. now owns 4,543 shares of the company's stock worth $162,000 after purchasing an additional 1,113 shares in the last quarter. Institutional investors and hedge funds own 94.60% of the company's stock.

Analysts Set New Price Targets

GLBE has been the subject of several recent research reports. Truist Financial increased 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. Piper Sandler reissued an "overweight" rating and issued a $42.00 price target on shares of Global-e Online in a research report on Wednesday, May 14th. Raymond James Financial dropped their price target 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. Needham & Company LLC reissued a "buy" rating and issued a $40.00 price target on shares of Global-e Online in a research report on Thursday, May 15th. Finally, Benchmark dropped their price target on shares of Global-e Online from $61.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.08.

Global-e Online Trading Down 5.2%

Shares of Global-e Online stock opened at $31.42 on Friday. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of -87.28, a P/E/G ratio of 1.86 and a beta of 1.25. Global-e Online Ltd. has a 1-year low of $26.64 and a 1-year high of $63.69. The firm's 50-day moving average price is $32.97 and its two-hundred day moving average price is $39.15.

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, topping the consensus estimate of ($0.13) by $0.02. The firm had revenue of $189.88 million for the quarter, compared to analysts' expectations of $187.84 million. Global-e Online had a negative net margin of 7.70% and a negative return on equity of 6.96%. The company's quarterly revenue was up 30.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.19) earnings per share. As a group, equities research analysts predict that Global-e Online Ltd. will post 0.25 EPS for the current year.

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.

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