Global-E Online (NASDAQ:GLBE) Price Target Cut to $47.00 by Analysts at The Goldman Sachs Group

Global-E Online (NASDAQ:GLBE) had its price objective lowered by equities research analysts at The Goldman Sachs Group from $59.00 to $47.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 24.90% from the company’s previous close.

Several other analysts have also commented on GLBE. Wells Fargo & Company dropped their target price on Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Piper Sandler raised their price objective on shares of Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Benchmark 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 Thursday, February 20th. Needham & Company LLC restated a “buy” rating and set a $64.00 price target on shares of Global-E Online in a research report on Wednesday, March 12th. Finally, UBS Group decreased their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $57.00.

Global-E Online Price Performance

GLBE traded up $1.64 during trading on Wednesday, reaching $37.63. 522,010 shares of the company’s stock were exchanged, compared to its average volume of 1,292,829. Global-E Online has a 1 year low of $28.11 and a 1 year high of $63.69. The company’s fifty day simple moving average is $47.82 and its 200-day simple moving average is $46.68. The stock has a market capitalization of $6.18 billion, a P/E ratio of -85.52, a price-to-earnings-growth ratio of 4.61 and a beta of 1.30.

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

Institutional Trading of Global-E Online

Institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp lifted its holdings in Global-E Online by 69.1% in the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Global-E Online by 1,968.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after buying an additional 748 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Global-E Online in the fourth quarter worth about $59,000. Whipplewood Advisors LLC acquired a new position in shares of Global-E Online during the 4th quarter worth approximately $65,000. Finally, Quarry LP raised its holdings in shares of Global-E Online by 226.1% during the 3rd quarter. Quarry LP now owns 2,286 shares of the company’s stock worth $88,000 after acquiring an additional 1,585 shares during the period. 94.60% of the stock is owned by institutional investors and hedge funds.

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.