Phoenix Financial Ltd. Purchases Shares of 132,273 Global-e Online Ltd. (NASDAQ:GLBE)

Key Points

• Phoenix Financial Ltd. acquired 132,273 shares of Global-e Online Ltd. for about $4.7 million, representing 0.08% ownership, in the first quarter of 2023.
• Global-e Online has garnered positive attention from analysts, with consensus ratings leaning towards a “Moderate Buy” and an average price target of $48.08.
• The company's latest earnings report indicated a 30.2% revenue increase year-over-year, reporting revenues of $189.88 million despite a loss in earnings per share.

Phoenix Financial Ltd. acquired a new position in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 132,273 shares of the company's stock, valued at approximately $4,716,000. Phoenix Financial Ltd. owned about 0.08% of Global-e Online as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new position in Global-e Online in the first quarter valued at approximately $1,165,000. Sphera Management Technology Funds Ltd acquired a new stake in Global-e Online in the fourth quarter valued at approximately $1,636,000. Ethic Inc. acquired a new stake in Global-e Online in the fourth quarter valued at approximately $428,000. Noked Israel Ltd boosted its position in Global-e Online by 68.5% in the fourth quarter. Noked Israel Ltd now owns 252,818 shares of the company's stock valued at $13,786,000 after buying an additional 102,818 shares in the last quarter. Finally, Barton Investment Management boosted its position in Global-e Online by 3.4% in the first 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 in the last quarter. 94.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GLBE. Needham & Company LLC restated a "buy" rating and issued a $40.00 target price on shares of Global-e Online in a research report on Thursday, May 15th. KeyCorp cut their target price on shares of Global-e Online from $60.00 to $45.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company cut their target price on shares of Global-e Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. Piper Sandler reiterated an "overweight" rating and set a $42.00 price target on shares of Global-e Online in a report on Wednesday, May 14th. Finally, Raymond James Financial cut their price target on shares of Global-e Online from $60.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $48.08.

Global-e Online Stock Performance

GLBE stock traded down $0.14 during midday trading on Wednesday, reaching $34.04. 220,032 shares of the company's stock traded hands, compared to its average volume of 1,880,748. The company has a 50-day moving average price of $32.91 and a two-hundred day moving average price of $39.60. Global-e Online Ltd. has a 52 week low of $26.64 and a 52 week high of $63.69. The firm has a market capitalization of $5.78 billion, a PE ratio of -94.58, a price-to-earnings-growth ratio of 2.05 and a beta of 1.25.

Global-e Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm had revenue of $189.88 million for the quarter, compared to analysts' expectations of $187.84 million. Global-e Online had a negative net margin of 7.70% and a negative return on equity of 6.96%. The business's quarterly revenue was up 30.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. As a group, analysts predict that Global-e Online Ltd. will post 0.25 EPS for the current fiscal year.

About Global-e Online

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.