Yahoo Finance Globale Online (GLBE) Surges 7.4%: Is This an Indication of Further Gains?
Global-e Online Ltd. (GLBE) shares rallied 7.4% in the last trading session to close at $35.85. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.9% gain over the past four weeks.
Global-e Online extended its rally, driven by its business expansion across all geographies. It is continuously launching brands across various geographies and verticals which remains a major positive. This apart, strength in fulfilment services and solid growth of Shopify Markets Pro are driving Global-e Online’s customer momentum.
This company is expected to post quarterly loss of $0.16 per share in its upcoming report, which represents a year-over-year change of +27.3%. Revenues are expected to be $165.8 million, up 24.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Globale Online, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GLBE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Globale Online is a member of the Zacks Internet - Commerce industry. One other stock in the same industry, JD.com, Inc. (JD), finished the last trading session 4.5% lower at $26.26. JD has returned -6.2% over the past month.
For JD.com , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.81. This represents a change of +9.5% from what the company reported a year ago. JD.com currently has a Zacks Rank of #1 (Strong Buy).
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