Global-e Online (NASDAQ:GLBE) Shares Gap Up – Here’s What Happened
by Sarita Garza · The Markets DailyGlobal-e Online Ltd. (NASDAQ:GLBE – Get Free Report)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $29.70, but opened at $36.48. Global-e Online shares last traded at $33.5980, with a volume of 3,033,065 shares traded.
Wall Street Analysts Forecast Growth
GLBE has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Global-e Online in a research report on Monday, December 29th. Truist Financial set a $43.00 target price on shares of Global-e Online in a research report on Tuesday, January 20th. Zacks Research raised Global-e Online from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 19th. Needham & Company LLC lifted their price target on shares of Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Finally, Benchmark reiterated a “buy” rating on shares of Global-e Online in a research note on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.36.
View Our Latest Analysis on Global-e Online
Global-e Online Price Performance
The company has a 50-day simple moving average of $37.44 and a two-hundred day simple moving average of $36.19. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 1,135.95 and a beta of 1.24.
Global-e Online (NASDAQ:GLBE – Get Free Report) last issued its quarterly earnings data on Wednesday, November 19th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The firm had revenue of $220.78 million for the quarter, compared to the consensus estimate of $217.95 million. Global-e Online had a net margin of 0.82% and a return on equity of 0.81%. Global-e Online’s quarterly revenue was up 25.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.13) EPS. Research analysts anticipate that Global-e Online Ltd. will post 0.25 EPS for the current year.
Institutional Trading of Global-e Online
Large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd bought a new stake in Global-e Online during the 4th quarter valued at $39,000. IFP Advisors Inc raised its stake in shares of Global-e Online by 73.3% during the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after purchasing an additional 448 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Global-e Online by 67.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after purchasing an additional 528 shares during the period. Virtus Advisers LLC acquired a new position in Global-e Online during the 2nd quarter valued at about $47,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Global-e Online by 780.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock worth $61,000 after buying an additional 1,616 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.
Global-e Online Company Profile
Global-e Online Ltd. (NASDAQ: GLBE) is a leading cross-border e-commerce platform that enables online merchants to expand sales internationally. The company’s cloud-based solution integrates with major e-commerce systems to offer localized checkout experiences, dynamic currency conversion, import duties and taxes calculation, fraud prevention, and compliance with local trade regulations. By managing the end-to-end complexities of global transactions, Global-e helps retailers streamline their international operations and deliver a seamless shopping experience to customers worldwide.
Central to Global-e’s offering is a comprehensive suite of services that includes customizable checkout in the buyer’s local language, real-time display of prices in over 140 currencies, support for region-specific payment methods, and transparent calculation of duties and taxes at point of sale.