Global-E Online (NASDAQ:GLBE) Sees Strong Trading Volume - What's Next?

Global-E Online Ltd. (NASDAQ:GLBE - Get Free Report) saw an uptick in trading volume on Tuesday . 1,863,269 shares changed hands during trading, an increase of 25% from the previous session's volume of 1,487,446 shares.The stock last traded at $32.18 and had previously closed at $32.20.

Analyst Ratings Changes

Several research firms have recently commented on GLBE. Piper Sandler reaffirmed an "overweight" rating and issued a $42.00 target price on shares of Global-E Online in a research report on Wednesday, May 14th. KeyCorp lowered their price objective on shares of Global-E Online from $60.00 to $45.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. JMP Securities reaffirmed a "market outperform" rating and set a $64.00 price objective on shares of Global-E Online in a research report on Thursday, May 15th. Truist Financial began coverage on Global-E Online in a research report on Monday. They issued a "sell" rating and a $31.00 target price for the company. Finally, UBS Group cut their target price on Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $48.00.

Global-E Online Price Performance

The business has a 50-day moving average of $34.00 and a 200 day moving average of $45.00. The company has a market capitalization of $5.87 billion, a PE ratio of -78.61, a P/E/G ratio of 4.61 and a beta of 1.26.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.02. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The company had revenue of $189.88 million for the quarter, compared to the consensus estimate of $187.84 million. During the same quarter in the prior year, the firm earned ($0.19) earnings per share. Global-E Online's revenue was up 30.2% on a year-over-year basis. As a group, research analysts anticipate that Global-E Online Ltd. will post 0.25 EPS for the current year.

Institutional Investors Weigh In On Global-E Online

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TimesSquare Capital Management LLC increased its position in shares of Global-E Online by 6.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 770,999 shares of the company's stock valued at $42,043,000 after purchasing an additional 45,739 shares during the last quarter. Sphera Management Technology Funds Ltd purchased a new position in Global-E Online during the fourth quarter worth $1,636,000. Meitav Investment House Ltd. bought a new position in Global-E Online during the fourth quarter valued at $454,000. Ethic Inc. bought a new position in Global-E Online during the fourth quarter valued at $428,000. Finally, Noked Israel Ltd raised its stake in shares of 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 acquiring an additional 102,818 shares during the period. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

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.