Global-E Online (NASDAQ:GLBE) Sees Large Volume Increase - Time to Buy?

Global-E Online Ltd. (NASDAQ:GLBE - Get Free Report) saw strong trading volume on Tuesday . 1,863,269 shares were traded 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.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Benchmark lowered their target price on shares of Global-E Online from $61.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. JMP Securities reissued a "market outperform" rating and set a $64.00 price target on shares of Global-E Online in a research report on Thursday, May 15th. Truist Financial assumed coverage on shares of Global-E Online in a research report on Monday. They set a "sell" rating and a $31.00 price target on the stock. Morgan Stanley raised shares of Global-E Online from an "equal weight" rating to an "overweight" rating and reduced their price target for the stock from $55.00 to $46.00 in a research report on Wednesday, March 26th. Finally, Raymond James reduced 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 research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, Global-E Online has an average rating of "Moderate Buy" and an average price target of $48.00.

Global-E Online Stock Up 1.9%

The business's fifty day simple moving average is $34.02 and its two-hundred day simple moving average is $45.04. The company has a market cap of $5.87 billion, a price-to-earnings ratio of -78.55, a PEG ratio of 4.61 and a beta of 1.26.

Global-E Online (NASDAQ:GLBE - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $189.88 million during the quarter, compared to analysts' expectations of $187.84 million. During the same quarter last year, the business earned ($0.19) earnings per share. The business's revenue for the quarter was up 30.2% compared to the same quarter last year. Sell-side analysts predict that Global-E Online Ltd. will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GLBE. Fred Alger Management LLC increased its stake in shares of 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 worth $231,178,000 after buying an additional 2,847,868 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Global-E Online by 33,950.1% in the first quarter. Jennison Associates LLC now owns 1,418,526 shares of the company's stock worth $50,570,000 after buying an additional 1,414,360 shares during the last quarter. Arohi Asset Management PTE Ltd. increased its stake in Global-E Online by 130.5% during the first quarter. Arohi Asset Management PTE Ltd. now owns 1,477,728 shares of the company's stock valued at $52,681,000 after purchasing an additional 836,522 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Global-E Online by 149.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,247,984 shares of the company's stock valued at $44,491,000 after purchasing an additional 748,608 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in Global-E Online during the fourth quarter valued at $40,146,000. 94.60% of the stock is owned by institutional investors and hedge funds.

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.