Global-e Online Ltd. (NASDAQ:GLBE) Receives Average “Buy” Rating from Brokerages

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Shares of Global-e Online Ltd. (NASDAQ: GLBE – Get Rating) have been assigned an average recommendation of “Buy” by the nine research firms that currently cover the company, reports Marketbeat.com. Eight research analysts have rated the stock with a buy rating. The 1-year average price target among brokerages that have issued ratings on the stock in the past year is $40.89.

A number of stock analysts have weighed in on the stock recently. Morgan Stanley raised its price target on shares of Global-e Online from $34.00 to $51.00 and gave the stock an “overweight” rating in a Wednesday, Aug. 17 research note. Raymond James raised his price target on Global-e Online shares from $25.00 to $40.00 and gave the stock an “outperform” rating in a Wednesday, August 17 research note. Jefferies Financial Group lowered its target price on Global-e Online shares from $70.00 to $31.00 in a Tuesday, May 17 research note. Bank of America raised its price target on Global-e Online shares from $30.00 to $40.00 and gave the company a “buy” rating in a Wednesday, Aug. 17 research note. Finally, Needham & Company LLC raised its price target on Global-e Online shares from $25.00 to $44.00 and gave the company a “buy” rating in a Wednesday, August 17 research note. .

Global-e online price performance

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Shares of Global-e Online opened at $32.73 on Wednesday. Global-e Online has a fifty-two week minimum of $15.63 and a fifty-two week maximum of $83.77. The company has a market capitalization of $5.09 billion, a P/E ratio of -32.73 and a beta of 1.68. The company’s 50-day moving average price is $26.36 and its two-hundred-day moving average price is $27.18.

Global-e Online (NASDAQ:GLBE – Get Rating) last released its quarterly results on Tuesday, August 16. The company reported ($0.31) EPS for the quarter, beating analyst consensus estimates of ($0.32) by $0.01. The company posted revenue of $87.31 million for the quarter, versus analyst estimates of $83.50 million. Global-e Online had a negative net margin of 50.20% and a negative return on equity of 6.60%. Global-e Online revenue increased by 52.4% compared to the same quarter last year. In the same quarter of the previous year, the company had earned earnings per share of $0.04. On average, analysts expect Global-e Online to post -1.24 earnings per share for the current year.

Institutional entries and exits

Hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Tortoise Index Solutions LLC purchased a new stake in shares of Global-e Online during Q4, valued at approximately $87,000. Rockefeller Capital Management LP bought a new stake in Global-e Online during the 4th quarter for a value of approximately $95,000. Asset Management One Co. Ltd. acquired a new stake in Global-e Online during the 4th quarter for a value of approximately $97,000. Prospera Financial Services Inc purchased a new stake in Global-e Online during Q1 valued at approximately $71,000. Finally, Focused Wealth Management Inc. increased its stake in Global-e Online by 31.6% during the second quarter. Focused Wealth Management Inc now owns 2,500 shares of the company worth $50,000 after acquiring an additional 600 shares during the period. 68.15% of the shares are currently held by hedge funds and other institutional investors.

About Global-e Online

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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 UK, the US and internationally. Its platform allows international buyers to buy online and merchants to sell from and to all over the world.

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Analyst Recommendations for Global-e Online (NASDAQ: GLBE)

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