Abdiel Capital Advisors LP recently announced the acquisition of new stake in Global-e Online Ltd. (NASDAQ:GLBE). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.84% to 15.25 million shares with purchase of 0.13 million shares. This fresh investment now brings its stake to 9.33% valued currently at $425.06 million. In addition, Morgan Stanley Investment Managem raised its holdings by 2.39 million to 9.5 million shares. And Eventide Asset Management LLC has lifted its position by 11.54% or 0.29 million shares – to 2.79 million shares.
With over 2.59 million Global-e Online Ltd. (GLBE) shares trading Monday and a closing price of $34.94 on the day, the dollar volume was approximately $90.4 million. The shares have shown a positive half year performance of 68.55% and its price on 05/22/23 lost nearly -2.78%. Currently, there are 160.66M common shares owned by the public and among those 119.33M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for GLBE have a consensus price objective of $40.20. The analysts have set the share’s price value over the next 12 months at a high of $46.00 and a low of $34.00. The average price target is 8.84% above its recent price level and a downside to the estimated low will see the stock lose -2.76% over that period. But an upside of 24.04% will see the stock hit the forecast high price target while median target price for the stock is $40.00.
The top 3 mutual fund holders in Global-e Online Ltd. are Catalyst Eventide Gilead Fund, Nikko Asset Global Fintech Equity, and Artisan Mid Cap Fund. Catalyst Eventide Gilead Fund owns 2.68 million shares of the company’s stock, all valued at over $74.79 million. The company bought an additional 0.28 million shares recently to bring their total holdings to about 1.64% of the shares outstanding. Artisan Mid Cap Fund sold -0.36 million shares to bring its total holdings to over 1.21 million shares at a value of $33.6 million. Artisan Mid Cap Fund now owns shares totaling to 0.74% of the shares outstanding.
Shares of Global-e Online Ltd. (NASDAQ: GLBE) opened at $33.47, down -$2.47 from a prior closing price of $35.94. However, the script later moved the day high at 36.05, down -2.78%. The company’s stock has a 5-day price change of 11.13% and 33.87% over the past three months. GLBE shares are trading 69.28% year to date (YTD), with the 12-month market performance up to 67.18% higher. It has a 12-month low price of $16.32 and touched a high of $37.65 over the same period. GLBE has an average intraday trading volume of 1.13 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 16.24%, 18.06%, and 28.76% respectively.
Institutional ownership of Global-e Online Ltd. (NASDAQ: GLBE) shares accounts for 70.10% of the company’s 160.66M shares outstanding. Mutual fund holders own 14.16%, while other institutional holders and individual stakeholders account for 26.31% and — respectively.
It has a market capitalization of $5.41B. The earnings-per-share (ttm) stands at -$1.24. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.50% over the week and 5.29% over the month.
Analysts forecast that Global-e Online Ltd. (GLBE) will achieve an EPS of -$0.29 for the current quarter, -$0.27 for the next quarter and -$0.71 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.32 while analysts give the company a high EPS estimate of -$0.22. Comparatively, EPS for the current quarter was -$0.35 a year ago. Earnings per share for the fiscal year are expected to decrease by -68.20%, and 28.30% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate Global-e Online Ltd. (GLBE) as a “Strong Buy” at a consensus score of 1.80. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 0 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”
