Global-E Online’s (GLBE) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Global-E Online (NASDAQ:GLBE) in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $64.00 price objective on the stock.

A number of other equities research analysts also recently issued reports on the company. KeyCorp boosted their price target on Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. UBS Group decreased their target price on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Wells Fargo & Company lowered their price objective on Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. The Goldman Sachs Group increased their price objective on shares of Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Morgan Stanley lifted their target price on Global-E Online from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.08.

Global-E Online Stock Performance

Shares of GLBE opened at $36.09 on Wednesday. The stock has a market capitalization of $5.93 billion, a P/E ratio of -82.02, a P/E/G ratio of 4.61 and a beta of 1.30. Global-E Online has a 1 year low of $28.11 and a 1 year high of $63.69. The company’s fifty day moving average is $52.02 and its two-hundred day moving average is $46.31.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The business had revenue of $262.91 million for the quarter, compared to analyst estimates of $250.96 million. During the same quarter in the previous year, the company earned $0.22 EPS. The company’s quarterly revenue was up 41.8% on a year-over-year basis. Sell-side analysts predict that Global-E Online will post 0.25 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Venturi Wealth Management LLC acquired a new position in Global-E Online during the 3rd quarter valued at about $87,000. Oppenheimer Asset Management Inc. boosted its holdings in shares of Global-E Online by 38.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 20,345 shares of the company’s stock valued at $782,000 after buying an additional 5,621 shares during the period. CIBC Asset Management Inc lifted its position in Global-E Online by 4.4% in the 3rd quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock valued at $362,000 after acquiring an additional 393 shares in the last quarter. RiverPark Advisors LLC lifted its holdings in shares of Global-E Online by 146.3% in the third quarter. RiverPark Advisors LLC now owns 6,036 shares of the company’s stock valued at $232,000 after purchasing an additional 3,585 shares in the last quarter. Finally, Swiss National Bank boosted its position in Global-E Online by 0.9% during the 3rd quarter. Swiss National Bank now owns 298,920 shares of the company’s stock worth $11,490,000 after acquiring an additional 2,600 shares during the last quarter. 94.60% of the stock is owned by institutional investors.

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.