KeyCorp Cuts Global-E Online (NASDAQ:GLBE) Price Target to $45.00

Global-E Online (NASDAQ:GLBE) had its price objective decreased by KeyCorp from $60.00 to $45.00 in a research note published on Wednesday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

GLBE has been the topic of a number of other reports. Morgan Stanley upgraded Global-E Online from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $55.00 to $46.00 in a research report on Wednesday, March 26th. UBS Group lowered their price target on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Needham & Company LLC reduced their price objective on shares of Global-E Online from $64.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday. Wells Fargo & Company decreased their target price on shares of Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Finally, Piper Sandler raised their price target on shares of Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $51.33.

Global-E Online Price Performance

NASDAQ:GLBE opened at $36.22 on Wednesday. The stock has a market cap of $6.13 billion, a P/E ratio of -82.32, a PEG ratio of 4.61 and a beta of 1.36. The company has a fifty day moving average price of $37.00 and a 200 day moving average price of $45.89. Global-E Online has a one year low of $26.64 and a one year high of $63.69.

Global-E Online (NASDAQ:GLBE) last released its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The business had revenue of $262.91 million during the quarter, compared to analysts’ expectations of $250.96 million. During the same quarter last year, the company earned $0.22 earnings per share. The firm’s revenue was up 41.8% on a year-over-year basis. As a group, equities research analysts anticipate that Global-E Online will post 0.25 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Fifth Third Bancorp raised its position in shares of Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after acquiring an additional 197 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Global-E Online by 1,968.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after purchasing an additional 748 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Global-E Online during the 4th quarter valued at about $59,000. Whipplewood Advisors LLC bought a new position in shares of Global-E Online in the 4th quarter valued at about $65,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Global-E Online during the 4th quarter worth approximately $99,000. Institutional investors and hedge funds 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.