Needham & Company LLC Lowers Global-E Online (NASDAQ:GLBE) Price Target to $40.00

Global-E Online (NASDAQ:GLBE - Get Free Report) had its target price dropped by equities researchers at Needham & Company LLC from $64.00 to $40.00 in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price objective indicates a potential upside of 10.44% from the company's current price.

GLBE has been the subject of a number of other reports. The Goldman Sachs Group cut their price target on Global-E Online from $59.00 to $47.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Morgan Stanley raised shares of Global-E Online from an "equal weight" rating to an "overweight" rating and cut their target price for the company from $55.00 to $46.00 in a research note on Wednesday, March 26th. UBS Group decreased their price target on shares of 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. Piper Sandler boosted their price objective on shares of Global-E Online from $63.00 to $66.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Finally, Benchmark decreased their target price on shares of Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $51.33.

Global-E Online Stock Down 0.3 %

Shares of Global-E Online stock traded down $0.11 on Tuesday, hitting $36.22. The company's stock had a trading volume of 935,692 shares, compared to its average volume of 1,404,298. The company has a market capitalization of $6.13 billion, a P/E ratio of -82.32, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. Global-E Online has a 52-week low of $26.64 and a 52-week high of $63.69. The firm has a fifty day moving average price of $37.00 and a 200-day moving average price of $45.95.

Global-E Online (NASDAQ:GLBE - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) 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 $262.91 million for the quarter, compared to the consensus estimate of $250.96 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The company's revenue for the quarter was up 41.8% compared to the same quarter last year. As a group, analysts expect that Global-E Online will post 0.25 earnings per share for the current year.

Institutional Investors Weigh In On Global-E Online

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp raised its holdings in shares of Global-E Online by 69.1% during the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company's stock valued at $26,000 after buying an additional 197 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Global-E Online by 2.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company's stock valued at $436,000 after purchasing an additional 200 shares during the period. Voya Investment Management LLC raised its stake in shares of Global-E Online by 1.3% during the fourth quarter. Voya Investment Management LLC now owns 17,060 shares of the company's stock valued at $930,000 after purchasing an additional 227 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Global-E Online by 1.6% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company's stock worth $908,000 after purchasing an additional 260 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Global-E Online by 7.1% in the fourth quarter. Mackenzie Financial Corp now owns 6,740 shares of the company's stock valued at $368,000 after purchasing an additional 448 shares during the period. Hedge funds and other institutional investors own 94.60% of the company's stock.

Global-E Online Company Profile

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.