Global E Online Ltd (NASDAQ: GLBE) stock jumped 4.55% on Monday to $31.91 against a previous-day closing price of $30.52. With 2.4 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.53 million shares. During the session, the Internet Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $33.15 whereas the lowest price it dropped to was $30.90. The 52-week range on GLBE shows that it touched its highest point at $45.72 and its lowest point at $18.14 during that stretch. It currently has a 1-year price target of $42.62. Beta for the stock currently stands at 1.10.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GLBE was down-trending over the past week, with a drop of -12.93%, but this was down by -8.83% over a month. Three-month performance dropped to -15.31% while six-month performance fell -8.67%. The stock gained 53.93% in the past year, while it has gained 54.60% so far this year. A look at the trailing 12-month EPS for GLBE yields -0.86 with Next year EPS estimates of -0.55. For the next quarter, that number is -0.13. This implies an EPS growth rate of 33.53% for this year and 33.37% for next year. EPS is expected to grow by 23.20% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 75.76%.
Float and Shares Shorts:
At present, 161.32 million GLBE shares are outstanding with a float of 91.54 million shares on hand for trading. On Oct 30, 2023, short shares totaled 6.75 million, which was 4.11% higher than short shares on Sep 28, 2023. In addition to Mr. Amir Schlachet as the firm’s Co-Founder, CEO & Chairman of the Board, Mr. Nir Debbi serves as its Co-Founder, President & Director.
Through their ownership of 60.27% of GLBE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 29.13% of GLBE, in contrast to 23.41% held by mutual funds. As the largest shareholder in GLBE with 9.43% of the stake, Morgan Stanley Investment Managem holds 15,419,317 shares worth 15,419,317. A second-largest stockholder of GLBE, Abdiel Capital Advisors LP, holds 11,692,772 shares, controlling over 7.15% of the firm’s shares. Goldman Sachs & Co. LLC is the third largest shareholder in GLBE, holding 4,705,671 shares or 2.88% stake. With a 1.45% stake in GLBE, the Eventide Gilead Fund is the largest stakeholder. A total of 2,363,795 shares are owned by the mutual fund manager. The Morgan Stanley Instl. Fund-Growth, which owns about 1.34% of GLBE stock, is the second-largest Mutual Fund holder. It holds 2,195,281 shares valued at 77.08 million. Brighthouse Funds Trust I – Morga holds 1.04% of the stake in GLBE, owning 1,696,903 shares worth 59.58 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GLBE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GLBE analysts setting a high price target of $53.00 and a low target of $33.00, the average target price over the next 12 months is $42.62. Based on these targets, GLBE could surge 66.09% to reach the target high and rise by 3.42% to reach the target low. Reaching the average price target will result in a growth of 33.56% from current levels.