Global-e Online (NASDAQ:GLBE) Stock Price Expected to Rise, Truist Financial Analyst Says

Global-e Online (NASDAQ:GLBE - Free Report) had its target price raised by Truist Financial from $31.00 to $32.00 in a research note released on Thursday morning,Benzinga reports. They currently have a sell rating on the stock.

A number of other research firms have also weighed in on GLBE. Wells Fargo & Company dropped their price target 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. Morgan Stanley upgraded Global-e Online from an "equal weight" rating to an "overweight" rating and lowered their price target for the stock from $55.00 to $46.00 in a research report on Wednesday, March 26th. KeyCorp lowered their price objective on 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. Needham & Company LLC restated a "buy" rating and set a $40.00 target price on shares of Global-e Online in a report on Thursday, May 15th. Finally, Benchmark cut their price target on Global-e Online from $61.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $48.08.

Global-e Online Trading Down 0.4%

Shares of NASDAQ GLBE traded down $0.13 during trading on Thursday, reaching $33.45. 2,344,709 shares of the company traded hands, compared to its average volume of 1,568,116. Global-e Online has a 12-month low of $26.64 and a 12-month high of $63.69. The firm's fifty day simple moving average is $33.08 and its 200 day simple moving average is $40.43. The stock has a market cap of $5.68 billion, a P/E ratio of -92.92, a PEG ratio of 1.99 and a beta of 1.25.

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. Global-e Online had a negative return on equity of 6.96% and a negative net margin of 7.70%. The business had revenue of $189.88 million for the quarter, compared to analyst estimates of $187.84 million. During the same period in the previous year, the company earned ($0.19) earnings per share. The company's revenue for the quarter was up 30.2% compared to the same quarter last year. As a group, research analysts expect that Global-e Online will post 0.25 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its position in Global-e Online by 6.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,769,843 shares of the company's stock valued at $170,045,000 after buying an additional 308,218 shares during the period. Fred Alger Management LLC grew its holdings in shares of Global-e Online by 204.6% during 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 in the last quarter. Contour Asset Management LLC boosted its stake in shares of Global-e Online by 17.8% in the first quarter. Contour Asset Management LLC now owns 3,119,286 shares of the company's stock valued at $111,203,000 after purchasing an additional 472,380 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Global-e Online by 1.5% in the 4th quarter. Clearbridge Investments LLC now owns 2,268,618 shares of the company's stock worth $123,708,000 after acquiring an additional 34,391 shares during the period. Finally, Spyglass Capital Management LLC boosted 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 worth $81,104,000 after purchasing an additional 94,664 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.