Wasatch Advisors LP Grows Stock Position in Global-E Online Ltd. (NASDAQ:GLBE)

Wasatch Advisors LP increased its holdings in Global-E Online Ltd. (NASDAQ:GLBE) by 34.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,394,222 shares of the company’s stock after purchasing an additional 357,204 shares during the quarter. Wasatch Advisors LP’s holdings in Global-E Online were worth $50,680,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Global-E Online during the 4th quarter worth about $141,000. Intech Investment Management LLC acquired a new stake in shares of Global-E Online during the 4th quarter worth about $233,000. J.W. Cole Advisors Inc. acquired a new stake in shares of Global-E Online during the 4th quarter worth about $243,000. OneAscent Financial Services LLC boosted its stake in shares of Global-E Online by 15.6% during the 4th quarter. OneAscent Financial Services LLC now owns 6,528 shares of the company’s stock worth $259,000 after purchasing an additional 880 shares during the last quarter. Finally, Focus Financial Network Inc. ADV acquired a new stake in shares of Global-E Online during the 4th quarter worth about $259,000. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GLBE shares. The Goldman Sachs Group reissued a “buy” rating and issued a $43.00 target price on shares of Global-E Online in a research report on Monday. Benchmark reissued a “buy” rating and issued a $41.00 target price on shares of Global-E Online in a research report on Tuesday, May 21st. Morgan Stanley raised shares of Global-E Online from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $33.00 to $37.00 in a research report on Tuesday, May 21st. JMP Securities restated a “market outperform” rating and issued a $46.00 price target on shares of Global-E Online in a report on Tuesday, May 28th. Finally, Bank of America lifted their price objective on shares of Global-E Online from $46.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $43.58.

Global-E Online Trading Down 1.7 %

Shares of Global-E Online stock opened at $36.33 on Wednesday. The company’s 50-day moving average price is $31.60 and its two-hundred day moving average price is $35.10. Global-E Online Ltd. has a 52 week low of $27.30 and a 52 week high of $45.72.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings data on Monday, May 20th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.04. Global-E Online had a negative return on equity of 18.05% and a negative net margin of 20.52%. The firm had revenue of $145.90 million for the quarter, compared to the consensus estimate of $141.55 million. During the same quarter in the previous year, the company earned ($0.26) EPS. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. As a group, analysts expect that Global-E Online Ltd. will post -0.52 earnings per share for the current fiscal year.

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.