Global-E Online (NASDAQ:GLBE) Shares Gap Up to $29.13

Global-E Online Ltd. (NASDAQ:GLBE - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $29.13, but opened at $34.20. Global-E Online shares last traded at $34.05, with a volume of 1,032,672 shares.

Wall Street Analysts Forecast Growth

GLBE has been the topic of a number of recent analyst reports. Piper Sandler reissued an "overweight" rating and issued a $50.00 price objective on shares of Global-E Online in a research note on Thursday, February 22nd. Wells Fargo & Company reissued an "overweight" rating and issued a $40.00 price objective on shares of Global-E Online in a research note on Monday, April 1st. Finally, Needham & Company LLC reissued a "buy" rating and issued a $48.00 price objective on shares of Global-E Online in a research note on Friday, April 5th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.00.

Global-E Online Stock Up 5.4 %

The business has a fifty day moving average of $33.69 and a 200 day moving average of $35.78. The firm has a market cap of $5.04 billion, a P/E ratio of -37.89 and a beta of 1.13.

Global-E Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). The company had revenue of $185.40 million during the quarter, compared to the consensus estimate of $181.74 million. Global-E Online had a negative net margin of 23.48% and a negative return on equity of 19.33%. The company's revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.18) EPS. On average, sell-side analysts expect that Global-E Online Ltd. will post -0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Global-E Online

Several large investors have recently modified their holdings of GLBE. Commonwealth Equity Services LLC bought a new stake in shares of Global-E Online in the third quarter worth about $251,000. Bank of New York Mellon Corp bought a new stake in shares of Global-E Online in the third quarter worth about $5,991,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Global-E Online in the third quarter worth about $175,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Global-E Online by 21.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,724 shares of the company's stock worth $2,453,000 after acquiring an additional 10,700 shares in the last quarter. Finally, TD Asset Management Inc bought a new position in shares of Global-E Online during the third quarter worth about $892,000. 94.60% of the stock is currently owned by 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.