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

Global-E Online (NASDAQ:GLBE) had its price objective decreased by equities research analysts at Wells Fargo & Company from $60.00 to $54.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 34.90% from the stock’s previous close.

GLBE has been the topic of a number of other research reports. Morgan Stanley raised their price target on shares of Global-E Online from $52.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 18th. Raymond James raised their target price on Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. KeyCorp boosted their price target on Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Piper Sandler increased their price objective on Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, The Goldman Sachs Group lifted their price objective on Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $59.08.

Global-E Online Trading Up 0.7 %

Shares of NASDAQ:GLBE traded up $0.27 on Wednesday, reaching $40.03. 88,273 shares of the company traded hands, compared to its average volume of 1,649,050. Global-E Online has a 52 week low of $28.11 and a 52 week high of $63.69. The business’s 50-day simple moving average is $54.71 and its 200 day simple moving average is $46.29. The stock has a market capitalization of $6.58 billion, a P/E ratio of -91.13, a price-to-earnings-growth ratio of 4.61 and a beta of 1.23.

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

Institutional Trading of Global-E Online

A number of hedge funds have recently modified their holdings of the business. Fifth Third Bancorp lifted its position in Global-E Online by 69.1% during the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after acquiring an additional 197 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Global-E Online during the third quarter valued at approximately $32,000. Geneos Wealth Management Inc. boosted its holdings in Global-E Online by 1,968.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after acquiring an additional 748 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Global-E Online during the 4th quarter valued at about $59,000. Finally, Whipplewood Advisors LLC bought a new position in Global-E Online in the 4th quarter valued at approximately $65,000. 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.