Global-e Online Ltd. $GLBE Stake Lifted by Contour Asset Management LLC

Key Points

• Contour Asset Management LLC increased its stake in Global-e Online Ltd. by 17.8%, making it the firm's 10th largest position with a total of 3,119,286 shares valued at approximately $111 million.
• The company reported a quarterly earnings per share (EPS) of $0.06, surpassing the consensus estimate of $0.02, with revenue rising 27.9% year-over-year to $214.88 million.
• Analysts have mixed opinions on Global-e Online, with an average rating of "Moderate Buy" and a consensus target price of $48.33 despite a recent drop in price targets from several brokerages.

Contour Asset Management LLC lifted its position in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 17.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,119,286 shares of the company's stock after acquiring an additional 472,380 shares during the quarter. Global-e Online accounts for approximately 4.4% of Contour Asset Management LLC's portfolio, making the stock its 10th largest holding. Contour Asset Management LLC owned about 1.84% of Global-e Online worth $111,203,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Berbice Capital Management LLC purchased a new stake in Global-e Online in the 1st quarter valued at approximately $36,000. Assetmark Inc. acquired a new stake in shares of Global-e Online in the 1st quarter valued at approximately $45,000. Pacer Advisors Inc. boosted its stake in shares of Global-e Online by 52.9% in 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 in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Global-e Online during the first quarter worth $68,000. Finally, ASR Vermogensbeheer N.V. purchased a new position in Global-e Online in the first quarter worth $122,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GLBE shares. Zacks Research upgraded shares of Global-e Online to a "hold" rating in a research report on Friday, August 8th. Raymond James Financial decreased their target price 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. Needham & Company LLC restated a "buy" rating and set a $40.00 target price on shares of Global-e Online in a research report on Thursday, May 15th. Benchmark decreased 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 report on Tuesday, May 13th. Finally, JMP Securities restated a "market outperform" rating and set a $64.00 target price on shares of Global-e Online in a research report on Thursday, May 15th. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.33.

Global-e Online Stock Up 2.1%

Shares of Global-e Online stock traded up $0.72 on Friday, hitting $35.78. The company's stock had a trading volume of 2,077,806 shares, compared to its average volume of 1,932,853. Global-e Online Ltd. has a 52-week low of $26.64 and a 52-week high of $63.69. The firm has a fifty day moving average price of $33.26 and a 200-day moving average price of $34.53. The company has a market capitalization of $6.07 billion, a P/E ratio of -210.47, a price-to-earnings-growth ratio of 1.91 and a beta of 1.24.

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

Global-e Online declared that its board has initiated a share buyback plan on Thursday, September 4th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are undervalued.

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.