Eventide Asset Management LLC Reduces Stock Position in Global-e Online Ltd. $GLBE

Key Points

• Eventide Asset Management LLC sold 20,269 shares of Global-e Online Ltd. in Q1, reducing its stake by 1.3% to 1,523,749 shares, which constitutes about 1.1% of its total portfolio.
• Global-e Online's stock has a consensus rating of "Moderate Buy" among analysts, with an average price target of $48.33, despite numerous recent target price reductions.
• In its latest quarterly earnings report, Global-e Online beat analysts' expectations with earnings of $0.06 per share and revenues of $214.88 million, reflecting a 27.9% year-over-year increase.

Eventide Asset Management LLC lessened its position in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,523,749 shares of the company's stock after selling 20,269 shares during the period. Global-e Online makes up about 1.1% of Eventide Asset Management LLC's holdings, making the stock its 26th biggest position. Eventide Asset Management LLC owned 0.90% of Global-e Online worth $54,322,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GLBE. Voya Investment Management LLC increased its holdings in Global-e Online by 1.3% during the 4th quarter. Voya Investment Management LLC now owns 17,060 shares of the company's stock worth $930,000 after acquiring an additional 227 shares during the period. Tudor Investment Corp ET AL bought a new stake in Global-e Online during the 4th quarter worth approximately $270,000. The Manufacturers Life Insurance Company increased its holdings in Global-e Online by 1.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 36,505 shares of the company's stock worth $1,991,000 after acquiring an additional 630 shares during the period. Northern Trust Corp increased its holdings in Global-e Online by 51.4% during the 4th quarter. Northern Trust Corp now owns 441,795 shares of the company's stock worth $24,091,000 after acquiring an additional 149,958 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Global-e Online by 115.9% during the 4th quarter. Ameriprise Financial Inc. now owns 110,477 shares of the company's stock worth $6,024,000 after acquiring an additional 59,295 shares during the period. Institutional investors own 94.60% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on GLBE. Truist Financial upped their target price on shares of Global-e Online from $31.00 to $32.00 and gave the stock a "sell" rating in a report on Thursday, July 17th. JMP Securities reissued a "market outperform" rating and issued a $64.00 price target on shares of Global-e Online in a 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 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 on the stock in a report on Thursday, May 15th. Finally, Zacks Research raised shares of Global-e Online to a "hold" rating in a report on Friday, August 8th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.33.

Global-e Online Stock Performance

Shares of GLBE stock traded up $0.72 on Friday, hitting $35.78. 2,077,806 shares of the company's stock traded hands, compared to its average volume of 1,915,298. Global-e Online Ltd. has a one year low of $26.64 and a one year high of $63.69. The company's fifty day simple moving average is $33.26 and its 200 day simple moving average is $34.61. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of -210.47, a P/E/G ratio of 1.91 and a beta of 1.24.

Global-e Online (NASDAQ:GLBE - Get Free Report) last released its earnings results on Wednesday, August 13th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. Global-e Online had a negative net margin of 3.37% and a negative return on equity of 3.20%. The company had revenue of $214.88 million for the quarter, compared to analyst estimates of $207.95 million. During the same quarter last year, the firm earned ($0.13) EPS. The firm's quarterly revenue was up 27.9% compared to the same quarter last year. Global-e Online has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that Global-e Online Ltd. will post 0.25 earnings per share for the current fiscal year.

Global-e Online announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 4th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to buy up to 3.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

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.