Benchmark Has Lowered Expectations for Global-E Online (NASDAQ:GLBE) Stock Price

Global-E Online (NASDAQ:GLBE) had its price objective trimmed by Benchmark from $61.00 to $55.00 in a research note released on Tuesday morning, Marketbeat reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also issued reports on GLBE. The Goldman Sachs Group cut their price target on shares of Global-E Online from $59.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Wells Fargo & Company cut their target price on Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Needham & Company LLC lowered their price target on Global-E Online from $64.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. KeyCorp cut their price objective on Global-E Online from $60.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Finally, Piper Sandler reduced their price objective on Global-E Online from $62.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $49.42.

Global-E Online Price Performance

Global-E Online stock opened at $33.11 on Tuesday. The business has a fifty day moving average price of $35.42 and a 200-day moving average price of $45.78. Global-E Online has a 1-year low of $26.64 and a 1-year high of $63.69. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of -75.25, a PEG ratio of 4.61 and a beta of 1.36.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The business had revenue of $189.88 million for the quarter, compared to analyst estimates of $187.84 million. On average, equities research analysts anticipate that Global-E Online will post 0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp raised its position in 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. Daiwa Securities Group Inc. grew its stake in shares of Global-E Online by 2.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock worth $436,000 after purchasing an additional 200 shares during the period. Voya Investment Management LLC increased its holdings in shares of Global-E Online by 1.3% during the 4th quarter. Voya Investment Management LLC now owns 17,060 shares of the company’s stock valued at $930,000 after purchasing an additional 227 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Global-E Online by 1.6% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company’s stock valued at $908,000 after purchasing an additional 260 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in shares of Global-E Online by 7.1% in the 4th quarter. Mackenzie Financial Corp now owns 6,740 shares of the company’s stock valued at $368,000 after purchasing an additional 448 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.

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.