Lord Abbett & CO. LLC Reduces Holdings in Global-e Online Ltd. $GLBE

Key Points

• Lord Abbett & CO. LLC reduced its stake in Global-e Online Ltd. by 4.8% in the first quarter, now holding 700,585 shares valued at approximately $24.98 million.
• Analysts have varied target prices for Global-e Online, with the average target set at $48.33 and a consensus rating of "Moderate Buy".
• Global-e Online reported a 27.9% increase in revenue year-over-year, achieving $214.88 million, while beating EPS estimates with a reported $0.06 per share.

Lord Abbett & CO. LLC cut its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 4.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 700,585 shares of the company's stock after selling 35,636 shares during the quarter. Lord Abbett & CO. LLC owned 0.41% of Global-e Online worth $24,976,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Fred Alger Management LLC boosted its stake in Global-e Online by 204.6% in the fourth quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company's stock valued at $231,178,000 after acquiring an additional 2,847,868 shares during the last quarter. Contour Asset Management LLC boosted its stake in shares of Global-e Online by 9.1% during the fourth quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company's stock valued at $144,336,000 after purchasing an additional 220,519 shares during the period. Spyglass Capital Management LLC increased its holdings in shares of Global-e Online by 6.8% during the fourth quarter. Spyglass Capital Management LLC now owns 1,487,335 shares of the company's stock valued at $81,104,000 after acquiring an additional 94,664 shares in the last quarter. Jennison Associates LLC boosted its stake in Global-e Online by 33,950.1% during the 1st quarter. Jennison Associates LLC now owns 1,418,526 shares of the company's stock worth $50,570,000 after purchasing an additional 1,414,360 shares during the last quarter. Finally, Barton Investment Management raised its holdings in Global-e Online by 3.4% in the 1st quarter. Barton Investment Management now owns 1,036,767 shares of the company's stock valued at $36,961,000 after buying an additional 34,080 shares during the period. Institutional investors own 94.60% of the company's stock.

Global-e Online Stock Performance

Shares of GLBE stock traded down $0.57 during trading on Thursday, hitting $31.27. The company had a trading volume of 542,673 shares, compared to its average volume of 1,909,209. The firm has a market capitalization of $5.31 billion, a P/E ratio of -183.94, a price-to-earnings-growth ratio of 1.76 and a beta of 1.24. Global-e Online Ltd. has a one year low of $26.64 and a one year high of $63.69. The stock's 50-day moving average price is $32.90 and its 200 day moving average price is $37.02.

Global-e Online (NASDAQ:GLBE - Get Free Report) last announced its quarterly 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 firm had revenue of $214.88 million during the quarter, compared to the consensus estimate of $207.95 million. During the same period last year, the firm earned ($0.13) EPS. The business'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. On average, research analysts anticipate that Global-e Online Ltd. will post 0.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GLBE. Zacks Research raised Global-e Online to a "hold" rating in a report on Friday, August 8th. JMP Securities reaffirmed a "market outperform" rating and set a $64.00 price objective on shares of Global-e Online in a research note on Thursday, May 15th. Raymond James Financial cut their price objective on Global-e Online from $60.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, May 15th. Piper Sandler restated an "overweight" rating and issued a $42.00 price objective on shares of Global-e Online in a report on Wednesday, May 14th. Finally, Truist Financial lifted their price objective on Global-e Online from $31.00 to $32.00 and gave the stock a "sell" rating in a report on Thursday, July 17th. Eleven research 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's stock. Based on data from MarketBeat.com, the company presently has a consensus 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.