Global-E Online (NASDAQ:GLBE) Given New $42.00 Price Target at Piper Sandler

Global-E Online (NASDAQ:GLBE) had its target price trimmed by Piper Sandler from $62.00 to $42.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts have also recently weighed in on GLBE. UBS Group lowered their price target on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a report on Friday, February 21st. Needham & Company LLC lowered their target price on shares of Global-E Online from $64.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday. KeyCorp dropped their price target on shares of Global-E Online from $60.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday. Wells Fargo & Company decreased their price objective on shares of Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Finally, Morgan Stanley upgraded shares of Global-E Online from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $55.00 to $46.00 in a report on Wednesday, March 26th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, Global-E Online has a consensus rating of “Buy” and a consensus target price of $51.33.

Global-E Online Price Performance

Shares of GLBE stock opened at $34.76 on Wednesday. The company has a market capitalization of $5.88 billion, a PE ratio of -79.00, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. The firm’s 50-day moving average is $38.05 and its two-hundred day moving average is $45.89. Global-E Online has a 12 month low of $26.64 and a 12 month high of $63.69.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. The firm had revenue of $262.91 million for the quarter, compared to analyst estimates of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The business’s revenue for the quarter was up 41.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 EPS. Sell-side analysts forecast that Global-E Online will post 0.25 EPS for the current year.

Institutional Trading of Global-E Online

A number of large investors have recently modified their holdings of the stock. Fred Alger Management LLC grew its stake in Global-E Online by 204.6% during the 4th 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 in the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of Global-E Online in the 4th quarter valued at about $40,146,000. Norges Bank acquired a new position in shares of Global-E Online during the fourth quarter worth about $38,875,000. SG Americas Securities LLC increased its stake in shares of Global-E Online by 5,939.0% during the fourth quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock worth $34,703,000 after buying an additional 625,855 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Global-E Online by 40.7% in the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock valued at $70,979,000 after acquiring an additional 533,675 shares in the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

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.