Global-E Online (NASDAQ:GLBE) Price Target Raised to $55.00

Global-E Online (NASDAQ:GLBE) had its price objective raised by equities research analysts at Morgan Stanley from $52.00 to $55.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential downside of 11.18% from the company’s current price.

Other research analysts have also issued research reports about the stock. JMP Securities lifted their price objective on shares of Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 21st. The Goldman Sachs Group upped their price objective on shares of Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Jefferies Financial Group lifted their target price on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Benchmark increased their price target on Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Finally, Wells Fargo & Company raised their price target on Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.33.

Global-E Online Stock Performance

NASDAQ:GLBE traded down $0.92 during mid-day trading on Tuesday, hitting $61.92. The company had a trading volume of 2,197,852 shares, compared to its average volume of 1,281,841. Global-E Online has a fifty-two week low of $28.11 and a fifty-two week high of $63.69. The firm has a market cap of $10.17 billion, a P/E ratio of -106.76, a P/E/G ratio of 6.16 and a beta of 1.23. The business’s fifty day moving average is $56.82 and its two-hundred day moving average is $45.30.

Hedge Funds Weigh In On Global-E Online

A number of large investors have recently bought and sold shares of GLBE. Values First Advisors Inc. lifted its position in shares of Global-E Online by 49.2% in the third quarter. Values First Advisors Inc. now owns 13,070 shares of the company’s stock worth $502,000 after purchasing an additional 4,309 shares in the last quarter. Mount Yale Investment Advisors LLC bought a new stake in Global-E Online during the 3rd quarter worth about $323,000. Mediolanum International Funds Ltd acquired a new position in shares of Global-E Online during the 3rd quarter worth about $315,000. Focus Financial Network Inc. boosted its stake in shares of Global-E Online by 11.2% during the 3rd quarter. Focus Financial Network Inc. now owns 6,899 shares of the company’s stock worth $265,000 after buying an additional 694 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Global-E Online in the third quarter valued at about $362,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

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.