Bank of America Boosts Global-E Online (NASDAQ:GLBE) Price Target to $47.00

Global-E Online (NASDAQ:GLBE) had its price target boosted by Bank of America from $46.00 to $47.00 in a report published on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued research reports about the company. Needham & Company LLC reissued a buy rating and issued a $48.00 price objective on shares of Global-E Online in a research note on Friday, April 5th. Piper Sandler reaffirmed an overweight rating and set a $50.00 target price on shares of Global-E Online in a research report on Thursday, February 22nd. Wells Fargo & Company reaffirmed an overweight rating and set a $40.00 target price on shares of Global-E Online in a research report on Monday, April 1st. Finally, Morgan Stanley raised Global-E Online from an equal weight rating to an overweight rating and boosted their target price for the stock from $33.00 to $37.00 in a research report on Tuesday. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, Global-E Online currently has a consensus rating of Buy and a consensus target price of $43.83.

Global-E Online Price Performance

NASDAQ GLBE opened at $29.45 on Tuesday. Global-E Online has a 12 month low of $27.30 and a 12 month high of $45.72. The firm has a market capitalization of $4.84 billion, a PE ratio of -39.80 and a beta of 1.13. The company’s 50 day simple moving average is $33.40 and its 200 day simple moving average is $35.65.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings data on Monday, May 20th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $145.90 million for the quarter, compared to the consensus estimate of $141.55 million. During the same quarter in the previous year, the business earned ($0.26) EPS. The company’s quarterly revenue was up 24.1% compared to the same quarter last year. Sell-side analysts anticipate that Global-E Online will post -0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Capital World Investors grew its stake in Global-E Online by 581.5% in the fourth quarter. Capital World Investors now owns 3,105,532 shares of the company’s stock valued at $123,072,000 after purchasing an additional 2,649,873 shares in the last quarter. Morgan Stanley grew its stake in Global-E Online by 18.2% in the third quarter. Morgan Stanley now owns 15,827,478 shares of the company’s stock valued at $628,984,000 after purchasing an additional 2,438,737 shares in the last quarter. Brown Capital Management LLC purchased a new position in Global-E Online in the first quarter valued at about $69,352,000. Contour Asset Management LLC purchased a new position in Global-E Online in the fourth quarter valued at about $57,816,000. Finally, Invesco Ltd. grew its stake in Global-E Online by 198.4% in the third quarter. Invesco Ltd. now owns 1,566,885 shares of the company’s stock valued at $62,268,000 after purchasing an additional 1,041,746 shares in the last quarter. 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.