Analysts Set Global-E Online Ltd. (NASDAQ:GLBE) Target Price at $57.00

Global-E Online Ltd. (NASDAQ:GLBE) has earned a consensus recommendation of “Buy” from the twelve brokerages that are covering the company, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have covered the stock in the last year is $57.00.

Several research analysts have issued reports on GLBE shares. 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 report on Friday, February 21st. Needham & Company LLC restated a “buy” rating and issued a $64.00 price objective on shares of Global-E Online in a report on Wednesday, March 12th. Morgan Stanley upgraded 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. KeyCorp boosted their price target on Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Piper Sandler increased their price objective on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday, January 6th.

Global-E Online Stock Up 21.0 %

GLBE stock opened at $36.07 on Monday. The business has a 50 day moving average of $43.64 and a 200 day moving average of $46.27. The firm has a market cap of $6.10 billion, a PE ratio of -81.98, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. Global-E Online has a twelve month low of $26.64 and a twelve month high of $63.69.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. The firm had revenue of $262.91 million during the quarter, compared to the consensus estimate of $250.96 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The company’s revenue was up 41.8% on a year-over-year basis. During the same period last year, the company earned $0.22 earnings per share. On average, research analysts expect that Global-E Online will post 0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Global-E Online

A number of large investors have recently made changes to their positions in the company. Fred Alger Management LLC boosted its holdings 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. Contour Asset Management LLC raised its position in Global-E Online by 9.1% in the fourth quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company’s stock worth $144,336,000 after acquiring an additional 220,519 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Global-E Online by 1.5% during 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 last quarter. JPMorgan Chase & Co. grew its position in shares of Global-E Online by 40.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock valued at $70,979,000 after acquiring an additional 533,675 shares during the period. Finally, State Street Corp increased its stake in shares of Global-E Online by 3.7% in the 3rd quarter. State Street Corp now owns 1,550,647 shares of the company’s stock worth $59,607,000 after purchasing an additional 55,760 shares in the last quarter. 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.