Home Hedge Funds Global-e Online Ltd. (NASDAQ:GLBE) Given Consensus Rating of “Buy” by Analysts

Global-e Online Ltd. (NASDAQ:GLBE) Given Consensus Rating of “Buy” by Analysts

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Shares of Global-e Online Ltd. (NASDAQ:GLBEGet Rating) have received a consensus rating of “Buy” from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have covered the stock in the last year is $40.89.

Several research analysts have commented on the stock. KeyCorp lifted their price target on shares of Global-e Online from $30.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 17th. Needham & Company LLC lifted their target price on shares of Global-e Online from $25.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. Bank of America lifted their target price on shares of Global-e Online from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. The Goldman Sachs Group lifted their target price on shares of Global-e Online from $31.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. Finally, Morgan Stanley lifted their target price on shares of Global-e Online from $34.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 17th.

Hedge Funds Weigh In On Global-e Online

Hedge funds have recently bought and sold shares of the business. Rockefeller Capital Management L.P. purchased a new position in Global-e Online in the 4th quarter worth about $95,000. Prospera Financial Services Inc purchased a new stake in shares of Global-e Online during the 1st quarter valued at about $71,000. Asset Management One Co. Ltd. increased its position in shares of Global-e Online by 22.9% during the 2nd quarter. Asset Management One Co. Ltd. now owns 2,418 shares of the company’s stock valued at $48,000 after purchasing an additional 451 shares during the last quarter. Focused Wealth Management Inc increased its position in shares of Global-e Online by 31.6% during the 2nd quarter. Focused Wealth Management Inc now owns 2,500 shares of the company’s stock valued at $50,000 after purchasing an additional 600 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Global-e Online during the 2nd quarter valued at about $54,000. Hedge funds and other institutional investors own 68.15% of the company’s stock.

Global-e Online Price Performance

Shares of GLBE opened at $27.08 on Friday. The firm’s 50 day simple moving average is $29.62 and its 200 day simple moving average is $26.54. The company has a market capitalization of $4.22 billion, a P/E ratio of -27.08 and a beta of 1.24. Global-e Online has a 1-year low of $15.63 and a 1-year high of $77.38.

Global-e Online (NASDAQ:GLBEGet Rating) last announced its earnings results on Tuesday, August 16th. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.01. The business had revenue of $87.31 million for the quarter, compared to the consensus estimate 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’s quarterly revenue was up 52.4% on a year-over-year basis. During the same period last year, the firm posted $0.04 earnings per share. On average, equities analysts anticipate that Global-e Online will post -1.24 earnings per share for the current year.

Global-e Online Company Profile

(Get Rating)

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.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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