Global-E Online (NASDAQ:GLBE) Price Target Lowered to $54.00 at Wells Fargo & Company

Global-E Online (NASDAQ:GLBE) had its target price cut by analysts at Wells Fargo & Company from $60.00 to $54.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 34.90% from the stock’s current price.

GLBE has been the subject of several other reports. JMP Securities increased their price objective on Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 21st. Jefferies Financial Group increased their price target on Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Benchmark cut their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Piper Sandler increased their target price on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Raymond James boosted their price target on shares of Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.08.

Global-E Online Stock Up 0.7 %

GLBE traded up $0.27 during midday trading on Wednesday, hitting $40.03. The company had a trading volume of 88,273 shares, compared to its average volume of 1,649,050. The stock’s 50 day moving average price is $54.71 and its 200 day moving average price is $46.29. Global-E Online has a 52 week low of $28.11 and a 52 week high of $63.69. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of -91.13, a PEG ratio of 4.61 and a beta of 1.23.

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

Institutional Investors Weigh In On Global-E Online

Hedge funds have recently modified their holdings of the stock. Fred Alger Management LLC boosted its position in Global-E Online by 204.6% during the fourth quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company’s stock worth $231,178,000 after purchasing an additional 2,847,868 shares during the period. Lord Abbett & CO. LLC bought a new position in Global-E Online in the 4th quarter valued at $40,146,000. Norges Bank purchased a new position in shares of Global-E Online during the 4th quarter valued at $38,875,000. SG Americas Securities LLC increased its holdings in shares of Global-E Online by 5,939.0% in the fourth quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock worth $34,703,000 after purchasing an additional 625,855 shares during the period. Finally, Eventide Asset Management LLC raised its position in shares of Global-E Online by 59.1% in the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock worth $60,091,000 after buying an additional 580,450 shares in the last quarter. Institutional investors 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.