Brokerages Set Global-E Online Ltd. (NASDAQ:GLBE) Price Target at $49.42

Shares of Global-E Online Ltd. (NASDAQ:GLBE - Get Free Report) have been assigned an average rating of "Buy" from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Twelve analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $49.42.

A number of equities research analysts have recently issued reports on the company. Morgan Stanley raised Global-E Online from an "equal weight" rating to an "overweight" rating and cut their target price for the stock from $55.00 to $46.00 in a research report on Wednesday, March 26th. The Goldman Sachs Group cut their target price on Global-E Online from $59.00 to $47.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Wells Fargo & Company cut their target price on 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. JMP Securities reiterated a "market outperform" rating and set a $64.00 price target on shares of Global-E Online in a report on Thursday, May 15th. Finally, 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.

Global-E Online Trading Up 0.7%

Shares of Global-E Online stock traded up $0.23 on Tuesday, reaching $31.63. 12,652,168 shares of the company were exchanged, compared to its average volume of 1,480,864. The stock has a fifty day moving average price of $34.23 and a 200-day moving average price of $45.23. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of -71.89, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. Global-E Online has a fifty-two week low of $26.64 and a fifty-two week high of $63.69.

Global-E Online (NASDAQ:GLBE - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.02. The company had revenue of $189.88 million for the quarter, compared to analyst estimates of $187.84 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. Global-E Online's revenue for the quarter was up 30.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.19) earnings per share. On average, equities analysts anticipate that Global-E Online will post 0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp grew its stake in Global-E Online by 69.1% in the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company's stock valued at $26,000 after purchasing an additional 197 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Global-E Online by 1,968.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company's stock valued at $43,000 after purchasing an additional 748 shares in the last quarter. Berbice Capital Management LLC purchased a new position in Global-E Online in the first quarter valued at about $36,000. Arcadia Investment Management Corp MI purchased a new position in Global-E Online in the fourth quarter valued at about $59,000. Finally, Whipplewood Advisors LLC purchased a new position in Global-E Online in the fourth quarter valued at about $65,000. Hedge funds and other institutional investors own 94.60% of the company's stock.

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.