Global-E Online (NASDAQ:GLBE) Price Target Cut to $54.00 by Analysts at Wells Fargo & Company

Global-E Online (NASDAQ:GLBE) had its price target decreased by Wells Fargo & Company from $60.00 to $54.00 in a report released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

GLBE has been the subject of several other research reports. Jefferies Financial Group raised their price target on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. The Goldman Sachs Group raised their price target on Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Needham & Company LLC raised their price target on Global-E Online from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. JMP Securities raised their price target on Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a report on Thursday, November 21st. Finally, 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 report on Tuesday, February 18th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.08.

Global-E Online Price Performance

Shares of GLBE stock opened at $40.50 on Wednesday. Global-E Online has a 1-year low of $28.11 and a 1-year high of $63.69. The stock’s 50-day moving average is $54.42 and its 200 day moving average is $46.25. The company has a market cap of $6.65 billion, a P/E ratio of -92.05, a PEG ratio of 4.61 and a beta of 1.23.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GLBE. Fifth Third Bancorp raised its position in Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after acquiring an additional 197 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Global-E Online during the third quarter valued at approximately $32,000. Geneos Wealth Management Inc. raised its position in Global-E Online by 1,968.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after acquiring an additional 748 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Global-E Online during the fourth quarter valued at approximately $59,000. Finally, Whipplewood Advisors LLC purchased a new position in Global-E Online during the fourth quarter valued at approximately $65,000. 94.60% of the stock is currently owned by hedge funds and other 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.