Global-E Online (NASDAQ:GLBE) Stock Price Expected to Rise, Raymond James Analyst Says

Global-E Online (NASDAQ:GLBE) had its price objective raised by research analysts at Raymond James from $41.00 to $55.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ target price would suggest a potential upside of 8.89% from the company’s current price.

Other research analysts also recently issued reports about the company. Wells Fargo & Company upped their price target on Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday. UBS Group decreased their price objective on Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, October 18th. Morgan Stanley lowered Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective for the company. in a report on Friday, October 18th. Piper Sandler reissued an “overweight” rating and set a $63.00 price objective (up from $44.00) on shares of Global-E Online in a report on Thursday. Finally, Jefferies Financial Group boosted their price objective on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Monday. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Global-E Online has a consensus rating of “Moderate Buy” and an average price target of $49.92.

Global-E Online Trading Up 5.5 %

GLBE stock traded up $2.65 during trading on Thursday, reaching $50.51. 1,644,777 shares of the stock were exchanged, compared to its average volume of 1,114,100. The firm’s 50 day moving average is $38.65 and its 200 day moving average is $35.02. Global-E Online has a twelve month low of $28.11 and a twelve month high of $52.26. The firm has a market cap of $8.30 billion, a P/E ratio of -76.91 and a beta of 1.10.

Hedge Funds Weigh In On Global-E Online

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dragoneer Investment Group LLC lifted its position in Global-E Online by 9.6% during the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after acquiring an additional 1,288,829 shares during the last quarter. Abdiel Capital Advisors LP increased its holdings in Global-E Online by 1.4% in the second quarter. Abdiel Capital Advisors LP now owns 6,776,495 shares of the company’s stock valued at $245,783,000 after buying an additional 95,741 shares in the last quarter. Capital World Investors increased its stake in shares of Global-E Online by 60.5% during the first quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock worth $181,150,000 after purchasing an additional 1,877,953 shares in the last quarter. Clearbridge Investments LLC purchased a new stake in Global-E Online during the 2nd quarter valued at about $83,036,000. Finally, Brown Capital Management LLC purchased a new stake in Global-E Online during the 1st quarter valued at about $69,352,000. 94.60% of the stock is currently owned by institutional investors.

Global-E Online Company Profile

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.