Goldman Sachs Group Inc. Increases Stock Position in Global-e Online Ltd. $GLBE

Key Points

• Goldman Sachs Group Inc. increased its stake in Global-e Online Ltd. by 6.9% during the first quarter, purchasing an additional 308,218 shares, bringing its total ownership to approximately 2.81% of the company.
• Global-e Online reported a 27.9% year-over-year revenue growth, reaching $214.88 million for the quarter, and beat analysts' EPS expectations by $0.04 with earnings of $0.06 per share.
• The company has initiated a share buyback plan authorizing up to $200 million to repurchase outstanding shares, indicating confidence in its stock valuation.

Goldman Sachs Group Inc. raised its holdings in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 6.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,769,843 shares of the company's stock after purchasing an additional 308,218 shares during the quarter. Goldman Sachs Group Inc. owned 2.81% of Global-e Online worth $170,045,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Berbice Capital Management LLC purchased a new position in Global-e Online in the first quarter worth $36,000. Assetmark Inc. purchased a new position in shares of Global-e Online in the 1st quarter valued at about $45,000. Pacer Advisors Inc. lifted 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 purchasing an additional 488 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Global-e Online in the first quarter valued at about $68,000. Finally, Siemens Fonds Invest GmbH purchased a new stake in Global-e Online during the fourth quarter worth about $124,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GLBE has been the subject of a number of research analyst reports. Zacks Research raised shares of Global-e Online to a "hold" rating in a report on Friday, August 8th. 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. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $48.33.

Global-e Online Trading Down 2.6%

Shares of NASDAQ GLBE traded down $0.97 during midday trading on Friday, reaching $35.68. 989,362 shares of the stock were exchanged, compared to its average volume of 1,546,551. The company has a market capitalization of $6.06 billion, a P/E ratio of -209.88, a P/E/G ratio of 1.95 and a beta of 1.24. The stock has a 50 day moving average price of $33.59 and a 200-day moving average price of $34.39. Global-e Online Ltd. has a 52-week low of $26.64 and a 52-week high of $63.69.

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, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $214.88 million during the quarter, compared to analysts' expectations of $207.95 million. Global-e Online had a negative net margin of 3.37% and a negative return on equity of 3.20%. Global-e Online's revenue for the quarter was up 27.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.13) EPS. Global-e Online has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts forecast that Global-e Online Ltd. will post 0.25 earnings per share for the current year.

Global-e Online declared that its board has authorized a stock buyback program on Thursday, September 4th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is 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.