Meitav Investment House Ltd. Purchases New Position in Global-E Online Ltd. (NASDAQ:GLBE)

Meitav Investment House Ltd. purchased a new stake in shares of Global-E Online Ltd. (NASDAQ:GLBE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,319 shares of the company’s stock, valued at approximately $454,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp increased its position in shares of Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after acquiring an additional 197 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Global-E Online during the third quarter valued at approximately $32,000. Geneos Wealth Management Inc. increased its position in shares of Global-E Online by 1,968.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after acquiring an additional 748 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Global-E Online during the third quarter valued at approximately $87,000. Finally, Quarry LP increased its position in shares of Global-E Online by 226.1% during the third quarter. Quarry LP now owns 2,286 shares of the company’s stock valued at $88,000 after acquiring an additional 1,585 shares in the last quarter. Institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Down 8.4 %

Shares of GLBE opened at $46.63 on Friday. Global-E Online Ltd. has a 52 week low of $28.11 and a 52 week high of $63.69. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of -80.40, a PEG ratio of 6.37 and a beta of 1.23. The business has a 50-day simple moving average of $56.72 and a two-hundred day simple moving average of $45.56.

Global-E Online (NASDAQ:GLBE) last released its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. Global-E Online had a negative net margin of 14.68% and a negative return on equity of 15.05%. The company had revenue of $262.91 million during the quarter, compared to analyst estimates of $250.96 million. During the same period in the prior year, the firm posted $0.22 EPS. The firm’s quarterly revenue was up 41.8% compared to the same quarter last year. On average, equities analysts anticipate that Global-E Online Ltd. will post -0.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GLBE. Wells Fargo & Company lifted their price target on shares of Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. The Goldman Sachs Group lifted their target price on shares of Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. JMP Securities increased their price target on Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a report on Thursday, November 21st. Raymond James lifted their price objective on Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Jefferies Financial Group increased their target price on Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 18th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.25.

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.