Global-E Online’s (GLBE) “Buy” Rating Reiterated at The Goldman Sachs Group

The Goldman Sachs Group reaffirmed their buy rating on shares of Global-E Online (NASDAQ:GLBE) in a report issued on Monday morning, Benzinga reports. The Goldman Sachs Group currently has a $43.00 price objective on the stock.

Other analysts also recently issued reports about the stock. Morgan Stanley raised shares of Global-E Online from an equal weight rating to an overweight rating and boosted their target price for the company from $33.00 to $37.00 in a research note on Tuesday, May 21st. Bank of America upped their price target on Global-E Online from $46.00 to $47.00 and gave the company a buy rating in a research report on Tuesday, May 21st. Needham & Company LLC reaffirmed a buy rating and set a $48.00 target price on shares of Global-E Online in a research note on Tuesday, May 21st. Wells Fargo & Company reiterated an overweight rating and issued a $40.00 target price on shares of Global-E Online in a report on Monday, April 1st. Finally, Benchmark restated a buy rating and set a $41.00 price target on shares of Global-E Online in a report on Tuesday, May 21st. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Global-E Online currently has an average rating of Buy and a consensus target price of $43.58.

Global-E Online Trading Down 1.0 %

Shares of GLBE opened at $35.96 on Monday. Global-E Online has a 52 week low of $27.30 and a 52 week high of $45.72. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of -48.59 and a beta of 1.10. The stock has a 50 day moving average of $31.71 and a 200-day moving average of $35.11.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings results 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 business had revenue of $145.90 million for the quarter, compared to the consensus estimate of $141.55 million. During the same quarter last year, the business posted ($0.26) EPS. The business’s revenue was up 24.1% on a year-over-year basis. On average, sell-side analysts predict that Global-E Online will post -0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Global-E Online

Institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. increased its stake in shares of Global-E Online by 28.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 84,996 shares of the company’s stock valued at $3,378,000 after acquiring an additional 18,834 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Global-E Online by 66.2% in the third quarter. Hsbc Holdings PLC now owns 8,630 shares of the company’s stock worth $344,000 after purchasing an additional 3,436 shares during the period. Rip Road Capital Partners LP acquired a new stake in Global-E Online in the third quarter worth $4,380,000. Morgan Stanley grew its holdings in shares of Global-E Online by 18.2% in the 3rd quarter. Morgan Stanley now owns 15,827,478 shares of the company’s stock valued at $628,984,000 after buying an additional 2,438,737 shares during the period. Finally, TimesSquare Capital Management LLC increased its position in shares of Global-E Online by 11.4% in the 3rd quarter. TimesSquare Capital Management LLC now owns 658,700 shares of the company’s stock valued at $26,177,000 after buying an additional 67,160 shares in the last quarter. 94.60% of the stock is owned by institutional investors.

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.