Global-e Online Ltd. $GLBE is Contour Asset Management LLC's 10th Largest Position

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

Several other hedge funds have also recently modified their holdings of GLBE. Berbice Capital Management LLC bought a new stake in Global-e Online during the 1st quarter valued at $36,000. Assetmark Inc. purchased a new stake in Global-e Online in the first quarter worth about $45,000. Pacer Advisors Inc. boosted its holdings in Global-e Online by 52.9% in the first quarter. Pacer Advisors Inc. now owns 1,410 shares of the company's stock worth $50,000 after purchasing an additional 488 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Global-e Online during the 1st quarter valued at $68,000. Finally, ASR Vermogensbeheer N.V. purchased a new position in shares of Global-e Online in the 1st quarter worth $122,000. Institutional investors own 94.60% of the company's stock.

Global-e Online Price Performance

Shares of GLBE traded up $0.72 on Friday, reaching $35.78. 2,077,806 shares of the stock traded hands, compared to its average volume of 1,915,298. The stock's 50-day moving average price is $33.26 and its 200-day moving average price is $34.61. Global-e Online Ltd. has a 12 month low of $26.64 and a 12 month high of $63.69. The firm has a market cap 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 issued its earnings results on Wednesday, August 13th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.04. The firm had revenue of $214.88 million for the quarter, compared to analysts' expectations of $207.95 million. Global-e Online had a negative return on equity of 3.20% and a negative net margin of 3.37%.The company's revenue was up 27.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.13) earnings per share. Global-e Online has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts forecast that Global-e Online Ltd. will post 0.25 earnings per share for the current fiscal year.

Global-e Online declared that its board has approved a share repurchase program on Thursday, September 4th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to buy up to 3.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. JMP Securities restated a "market outperform" rating and set a $64.00 price target on shares of Global-e Online in a research note on Thursday, May 15th. Benchmark reduced 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 report on Tuesday, May 13th. Truist Financial boosted their price objective 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. Needham & Company LLC reissued a "buy" rating and set a $40.00 target price on shares of Global-e Online in a research report on Thursday, May 15th. Finally, Raymond James Financial reduced their target price on Global-e Online from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, May 15th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Global-e Online currently has an average rating of "Moderate Buy" and an average target price of $48.33.

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.