Global-E Online (NASDAQ:GLBE) Earns “Buy” Rating from Needham & Company LLC

Global-E Online (NASDAQ:GLBE)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a report released on Monday,Benzinga reports. They currently have a $48.00 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 19.11% from the company’s current price.

GLBE has been the subject of several other research reports. Morgan Stanley lowered shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price target for the company. in a report on Friday, October 18th. UBS Group decreased their target price on 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. KeyCorp dropped their price target 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. Bank of America decreased their price objective on Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, Piper Sandler restated a “buy” rating on shares of Global-E Online in a report on Friday, October 18th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.30.

Global-E Online Stock Performance

Shares of NASDAQ GLBE opened at $40.30 on Monday. Global-E Online has a 52-week low of $28.11 and a 52-week high of $43.52. The stock has a market cap of $6.62 billion, a P/E ratio of -62.00 and a beta of 1.10. The firm has a 50 day moving average price of $38.16 and a 200 day moving average price of $34.79.

Hedge Funds Weigh In On Global-E Online

Hedge funds have recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new stake in shares of Global-E Online in the third quarter worth $32,000. Toronto Dominion Bank acquired a new stake in Global-E Online in the 2nd quarter valued at $40,000. Venturi Wealth Management LLC bought a new stake in Global-E Online during the 3rd quarter worth about $87,000. Quarry LP boosted its stake in shares of Global-E Online by 226.1% during the 3rd quarter. Quarry LP now owns 2,286 shares of the company’s stock worth $88,000 after buying an additional 1,585 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Global-E Online by 18.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after acquiring an additional 624 shares in the last quarter. 94.60% of the stock is owned by institutional investors.

About Global-E Online

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.