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

Shares of Global-e Online Ltd. (NASDAQ:GLBE) have received an average recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $49.9091.

Several research analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Global-e Online from $39.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Piper Sandler boosted their target price on Global-e Online from $42.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Benchmark reaffirmed a “buy” rating on shares of Global-e Online in a research note on Wednesday, December 17th. Needham & Company LLC lifted their price objective on Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Finally, Zacks Research raised Global-e Online from a “hold” rating to a “strong-buy” rating in a report on Friday, December 19th.

Hedge Funds Weigh In On Global-e Online

Several large investors have recently bought and sold shares of GLBE. IFP Advisors Inc grew its holdings in Global-e Online by 73.3% during the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock worth $38,000 after acquiring an additional 448 shares during the period. Virtus Advisers LLC bought a new position in shares of Global-e Online in the 2nd quarter worth $47,000. Geneos Wealth Management Inc. grew its stake in shares of Global-e Online by 67.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after purchasing an additional 528 shares during the period. Tower Research Capital LLC TRC increased its holdings in Global-e Online by 780.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock valued at $61,000 after purchasing an additional 1,616 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in Global-e Online by 237.7% in the third quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company’s stock valued at $72,000 after purchasing an additional 1,376 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-e Online Stock Up 2.7%

Shares of NASDAQ GLBE opened at $41.59 on Wednesday. Global-e Online has a 12-month low of $26.64 and a 12-month high of $63.69. The firm’s 50-day simple moving average is $38.58 and its 200 day simple moving average is $35.72. The company has a market cap of $7.06 billion, a price-to-earnings ratio of 1,386.80 and a beta of 1.24.

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

About Global-e Online

Global-e Online Ltd. (NASDAQ: GLBE) is a leading cross-border e-commerce platform that enables online merchants to expand sales internationally. The company’s cloud-based solution integrates with major e-commerce systems to offer localized checkout experiences, dynamic currency conversion, import duties and taxes calculation, fraud prevention, and compliance with local trade regulations. By managing the end-to-end complexities of global transactions, Global-e helps retailers streamline their international operations and deliver a seamless shopping experience to customers worldwide.

Central to Global-e’s offering is a comprehensive suite of services that includes customizable checkout in the buyer’s local language, real-time display of prices in over 140 currencies, support for region-specific payment methods, and transparent calculation of duties and taxes at point of sale.