Piper Sandler Forecasts Strong Price Appreciation for Global-e Online (NASDAQ:GLBE) Stock

Global-e Online (NASDAQ:GLBE) had its price objective lifted by research analysts at Piper Sandler from $42.00 to $48.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 35.63% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. Zacks Research upgraded shares of Global-e Online to a “hold” rating in a research note on Friday, August 8th. The Goldman Sachs Group boosted their target price on Global-e Online from $39.00 to $44.00 and gave the company a “buy” rating in a report on Monday, October 13th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of Global-e Online in a research report on Thursday. Weiss Ratings restated a “sell (d+)” rating on shares of Global-e Online in a research note on Wednesday, October 8th. Finally, Benchmark reiterated a “buy” rating on shares of Global-e Online in a research note on Monday. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $48.45.

Global-e Online Stock Down 4.4%

Shares of Global-e Online stock opened at $35.39 on Thursday. Global-e Online has a 52 week low of $26.64 and a 52 week high of $63.69. The firm’s 50 day moving average is $35.59 and its two-hundred day moving average is $34.23. The firm has a market capitalization of $6.01 billion, a P/E ratio of -208.18, a P/E/G ratio of 1.97 and a beta of 1.25.

Global-e Online (NASDAQ:GLBE) last issued its quarterly earnings data on Wednesday, November 19th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $220.78 million during the quarter, compared to the consensus estimate of $217.95 million. Global-e Online had a negative net margin of 3.37% and a negative return on equity of 3.20%. The company’s revenue was up 25.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.13) EPS. Global-e Online has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, research analysts expect that Global-e Online will post 0.25 earnings per share for the current fiscal year.

Global-e Online declared that its board has initiated a share buyback program on Thursday, September 4th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Global-e Online

Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its holdings in shares of Global-e Online by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 139,297 shares of the company’s stock valued at $4,966,000 after purchasing an additional 1,396 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of Global-e Online by 23.8% during the first quarter. New York State Common Retirement Fund now owns 57,248 shares of the company’s stock worth $2,041,000 after purchasing an additional 11,010 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Global-e Online in the 1st quarter valued at $1,165,000. Assetmark Inc. purchased a new position in Global-e Online in the 1st quarter valued at $45,000. Finally, Pacer Advisors Inc. increased its stake in Global-e Online by 52.9% in the 1st quarter. Pacer Advisors Inc. now owns 1,410 shares of the company’s stock valued at $50,000 after buying an additional 488 shares during the period. 94.60% of the stock is owned by institutional investors and hedge funds.

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.