Analysts Set Global-e Online Ltd. (NASDAQ:GLBE) Price Target at $49.91

Global-e Online Ltd. (NASDAQ:GLBE) has been given an average recommendation of “Moderate Buy” by the thirteen analysts that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $49.9091.

Several equities research analysts have recently commented on GLBE shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Global-e Online in a research report on Monday, December 8th. The Goldman Sachs Group increased their price objective on Global-e Online from $39.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Benchmark restated a “buy” rating on shares of Global-e Online in a report on Monday, November 17th. Truist Financial set a $41.00 price target on Global-e Online in a report on Thursday. Finally, Needham & Company LLC raised their price objective on Global-e Online from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, December 4th.

Global-e Online Price Performance

Shares of Global-e Online stock opened at $38.50 on Friday. Global-e Online has a one year low of $26.64 and a one year high of $63.69. The firm has a market capitalization of $6.53 billion, a price-to-earnings ratio of 1,283.76 and a beta of 1.24. The business has a 50-day simple moving average of $36.67 and a 200 day simple moving average of $34.83.

Global-e Online (NASDAQ:GLBE) last announced its quarterly earnings results on Wednesday, November 19th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $220.78 million for the quarter, compared to analyst estimates of $217.95 million. Global-e Online had a return on equity of 0.81% and a net margin of 0.82%.The company’s quarterly revenue was up 25.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.13) earnings per share. On average, sell-side analysts expect that Global-e Online will post 0.25 EPS for the current year.

Global-e Online declared that its board has authorized a stock repurchase program on Thursday, September 4th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Global-e Online

Institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its holdings in Global-e Online by 32.4% during the first quarter. PNC Financial Services Group Inc. now owns 4,543 shares of the company’s stock worth $162,000 after acquiring an additional 1,113 shares during the period. Swiss National Bank increased its position in shares of Global-e Online by 1.2% during the 1st quarter. Swiss National Bank now owns 279,920 shares of the company’s stock valued at $9,979,000 after purchasing an additional 3,400 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Global-e Online during the 1st quarter worth $235,000. Nuveen LLC purchased a new position in shares of Global-e Online in the 1st quarter worth about $9,432,000. Finally, Public Sector Pension Investment Board grew its position in Global-e Online by 7.1% during the first quarter. Public Sector Pension Investment Board now owns 60,250 shares of the company’s stock valued at $2,148,000 after buying an additional 4,000 shares during the period. 94.60% of the stock is owned by institutional investors.

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.