Royce & Associates LP Invests $284,000 in Global-E Online Ltd. (NASDAQ:GLBE)

Royce & Associates LP purchased a new position in shares of Global-E Online Ltd. (NASDAQ:GLBE) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 5,200 shares of the company’s stock, valued at approximately $284,000.

Several other hedge funds and other institutional investors have also modified their holdings of GLBE. CIBC Asset Management Inc boosted its position in shares of Global-E Online by 4.4% during the third quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock worth $362,000 after buying an additional 393 shares during the period. Swiss National Bank raised its stake in shares of Global-E Online by 0.9% in the third quarter. Swiss National Bank now owns 298,920 shares of the company’s stock valued at $11,490,000 after acquiring an additional 2,600 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Global-E Online by 10.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 71,151 shares of the company’s stock valued at $2,735,000 after acquiring an additional 6,485 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Global-E Online by 6.8% in the third quarter. Daiwa Securities Group Inc. now owns 7,800 shares of the company’s stock valued at $300,000 after acquiring an additional 500 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Global-E Online by 4.1% in the third quarter. FMR LLC now owns 979,371 shares of the company’s stock valued at $37,647,000 after acquiring an additional 38,597 shares in the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Global-E Online Stock Performance

Shares of GLBE stock opened at $37.91 on Friday. The stock’s 50-day moving average is $50.42 and its two-hundred day moving average is $46.41. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of -86.16, a PEG ratio of 4.61 and a beta of 1.30. Global-E Online Ltd. has a 1 year low of $28.11 and a 1 year high of $63.69.

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 the consensus estimate of ($0.01) by $0.02. The company had revenue of $262.91 million for the quarter, compared to analyst estimates 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 business’s quarterly revenue was up 41.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 earnings per share. As a group, research analysts predict that Global-E Online Ltd. will post 0.25 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. The Goldman Sachs Group increased their price objective on Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Piper Sandler increased their price objective on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 price objective on shares of Global-E Online in a research note on Wednesday, March 12th. KeyCorp increased 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. Finally, UBS Group cut their price target on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.08.

Global-E Online 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.