Global-E Online (NASDAQ:GLBE) Shares Gap Up – Here’s Why

Global-E Online Ltd. (NASDAQ:GLBE) shares gapped up before the market opened on Tuesday . The stock had previously closed at $40.20, but opened at $42.69. Global-E Online shares last traded at $41.15, with a volume of 295,975 shares changing hands.

Analyst Ratings Changes

Several research firms recently issued reports on GLBE. KeyCorp lowered their price objective on Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Piper Sandler reiterated a “buy” rating on shares of Global-E Online in a report on Friday, October 18th. Needham & Company LLC restated a “buy” rating and set a $48.00 target price on shares of Global-E Online in a research note on Thursday, August 15th. UBS Group reduced their price target on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Finally, Bank of America dropped their target price on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Global-E Online has an average rating of “Moderate Buy” and an average target price of $43.09.

Global-E Online Stock Performance

The stock has a fifty day moving average of $37.85 and a 200 day moving average of $34.68. The company has a market capitalization of $6.94 billion, a PE ratio of -65.00 and a beta of 1.10.

Global-E Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. Global-E Online had a negative net margin of 17.33% and a negative return on equity of 16.41%. The firm had revenue of $168.00 million during the quarter, compared to analyst estimates of $165.95 million. During the same quarter in the prior year, the business earned ($0.22) earnings per share. Global-E Online’s revenue for the quarter was up 26.0% on a year-over-year basis. As a group, equities analysts predict that Global-E Online Ltd. will post -0.5 EPS for the current year.

Institutional Investors Weigh In On Global-E Online

Several large investors have recently bought and sold shares of the business. Dragoneer Investment Group LLC lifted its position in Global-E Online by 9.6% during the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after purchasing an additional 1,288,829 shares during the last quarter. Abdiel Capital Advisors LP lifted its holdings in shares of Global-E Online by 1.4% in the 2nd quarter. Abdiel Capital Advisors LP now owns 6,776,495 shares of the company’s stock valued at $245,783,000 after acquiring an additional 95,741 shares during the last quarter. Capital World Investors lifted its holdings in shares of Global-E Online by 60.5% in the 1st quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock valued at $181,150,000 after acquiring an additional 1,877,953 shares during the last quarter. Clearbridge Investments LLC purchased a new position in Global-E Online in the second quarter worth about $83,036,000. Finally, Brown Capital Management LLC bought a new stake in Global-E Online during the first quarter worth approximately $69,352,000. Institutional investors own 94.60% of the company’s stock.

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.