Global-E Online (NASDAQ:GLBE) Rating Reiterated by The Goldman Sachs Group

Global-E Online (NASDAQ:GLBE)‘s stock had its “buy” rating reiterated by research analysts at The Goldman Sachs Group in a report released on Monday, Benzinga reports. They currently have a $43.00 price objective on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 18.10% from the stock’s previous close.

Other analysts have also issued reports about the stock. Bank of America increased their price target on shares of Global-E Online from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. JMP Securities reiterated a “market outperform” rating and set a $46.00 price target on shares of Global-E Online in a report on Tuesday, May 28th. Wells Fargo & Company reiterated an “overweight” rating and set a $40.00 price target on shares of Global-E Online in a report on Monday, April 1st. Benchmark reiterated a “buy” rating and set a $41.00 price target on shares of Global-E Online in a report on Tuesday, May 21st. Finally, Morgan Stanley upgraded Global-E Online from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $33.00 to $37.00 in a report on Tuesday, May 21st. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Global-E Online presently has a consensus rating of “Buy” and a consensus target price of $43.58.

Global-E Online Stock Up 0.4 %

GLBE stock traded up $0.14 during mid-day trading on Monday, reaching $36.41. The company had a trading volume of 289,716 shares, compared to its average volume of 1,189,159. The stock has a market capitalization of $5.98 billion, a P/E ratio of -49.20 and a beta of 1.10. Global-E Online has a one year low of $27.30 and a one year high of $45.72. The stock’s 50-day simple moving average is $31.46 and its two-hundred day simple moving average is $35.13.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings data on Monday, May 20th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04. The business had revenue of $145.90 million for the quarter, compared to analysts’ expectations of $141.55 million. Global-E Online had a negative net margin of 20.52% and a negative return on equity of 18.05%. The company’s revenue was up 24.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.26) earnings per share. On average, research analysts forecast that Global-E Online will post -0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

Several institutional investors have recently modified their holdings of the business. Morgan Stanley increased its position in shares of Global-E Online by 18.2% during the 3rd quarter. Morgan Stanley now owns 15,827,478 shares of the company’s stock worth $628,984,000 after purchasing an additional 2,438,737 shares during the last quarter. Capital World Investors increased its holdings in shares of Global-E Online by 60.5% during the 1st quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock worth $181,150,000 after acquiring an additional 1,877,953 shares during the last quarter. Eventide Asset Management LLC grew its holdings in Global-E Online by 0.5% in the 4th quarter. Eventide Asset Management LLC now owns 2,464,197 shares of the company’s stock valued at $97,656,000 after buying an additional 13,350 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Global-E Online by 9.9% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,403,473 shares of the company’s stock valued at $95,250,000 after buying an additional 217,482 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. grew its holdings in Global-E Online by 10.8% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 2,224,278 shares of the company’s stock valued at $88,037,000 after buying an additional 217,415 shares in the last quarter. Institutional investors own 94.60% of the company’s stock.

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.