Global-E Online (NASDAQ:GLBE) Shares Gap Down – Here’s What Happened

Global-E Online Ltd. (NASDAQ:GLBE)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $61.90, but opened at $56.36. Global-E Online shares last traded at $53.10, with a volume of 595,996 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GLBE shares. UBS Group dropped their price objective on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday. KeyCorp upped their price objective 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. Raymond James upped their price objective on Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. JMP Securities upped their price objective on Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company upped their price objective on Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. One research 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 company has a consensus rating of “Moderate Buy” and an average target price of $59.58.

Global-E Online Stock Down 3.3 %

The stock has a market cap of $7.40 billion, a PE ratio of -102.43, a P/E/G ratio of 5.03 and a beta of 1.23. The firm has a 50-day simple moving average of $56.72 and a 200-day simple moving average of $45.56.

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

Institutional Investors Weigh In On Global-E Online

Institutional investors and hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp raised its position in shares of Global-E Online by 69.1% in the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after buying an additional 197 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Global-E Online in the third quarter worth $32,000. Geneos Wealth Management Inc. raised its position in shares of Global-E Online by 1,968.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after buying an additional 748 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Global-E Online in the fourth quarter worth $59,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Global-E Online in the fourth quarter worth $65,000. Hedge funds and other institutional investors 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.