UBS Group Has Lowered Expectations for Global-E Online (NASDAQ:GLBE) Stock Price

Global-E Online (NASDAQ:GLBE) had its price target dropped by UBS Group from $68.00 to $64.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 43.95% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Benchmark decreased their target price on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday. KeyCorp boosted their target price on Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Morgan Stanley raised their price target on Global-E Online from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Wells Fargo & Company increased their price objective on Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, Jefferies Financial Group boosted their target price on shares of Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.58.

Global-E Online Trading Down 4.7 %

Shares of GLBE traded down $2.17 during midday trading on Friday, hitting $44.46. The stock had a trading volume of 1,207,719 shares, compared to its average volume of 1,443,287. Global-E Online has a fifty-two week low of $28.11 and a fifty-two week high of $63.69. The business has a 50-day simple moving average of $56.72 and a two-hundred day simple moving average of $45.56. The firm has a market cap of $7.30 billion, a P/E ratio of -101.03, a price-to-earnings-growth ratio of 5.03 and a beta of 1.23.

Global-E Online (NASDAQ:GLBE) last announced its earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. The company had revenue of $262.91 million during the quarter, compared to analysts’ expectations of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.60%. The business’s revenue for the quarter was up 41.8% on a year-over-year basis. During the same period last year, the company posted $0.22 earnings per share. On average, analysts expect that Global-E Online will post 0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

A number of institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp increased its stake in shares of Global-E Online by 7.1% in the fourth quarter. Mackenzie Financial Corp now owns 6,740 shares of the company’s stock worth $368,000 after purchasing an additional 448 shares during the period. PharVision Advisers LLC acquired a new stake in Global-E Online during the fourth quarter worth about $356,000. USS Investment Management Ltd acquired a new stake in Global-E Online during the fourth quarter worth about $3,336,000. Voloridge Investment Management LLC acquired a new stake in Global-E Online during the fourth quarter worth about $14,319,000. Finally, Whitebark Investors LP acquired a new stake in Global-E Online during the fourth quarter worth about $17,023,000. 94.60% of the stock is currently owned by institutional investors.

Global-E Online Company Profile

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.