Global-E Online (NASDAQ:GLBE) Price Target Raised to $64.00

Global-E Online (NASDAQ:GLBE) had its price objective raised by JMP Securities from $46.00 to $64.00 in a report issued on Thursday,Benzinga reports. The firm currently has a market outperform rating on the stock.

GLBE has been the topic of several other reports. Piper Sandler restated a “buy” rating on shares of Global-E Online 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 target price for the company. in a report on Friday, October 18th. Jefferies Financial Group lifted their price target on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. UBS Group reduced their price objective 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. Finally, Benchmark lifted their target price on Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Global-E Online has an average rating of “Moderate Buy” and an average target price of $49.92.

Global-E Online Price Performance

GLBE opened at $49.89 on Thursday. Global-E Online has a 1 year low of $28.11 and a 1 year high of $52.26. The company has a market capitalization of $8.19 billion, a price-to-earnings ratio of -86.02 and a beta of 1.10. The firm’s fifty day moving average price is $39.16 and its two-hundred day moving average price is $35.26.

Institutional Trading of Global-E Online

A number of institutional investors have recently modified their holdings of the business. Clearbridge Investments LLC bought a new stake in Global-E Online during the 2nd quarter valued at $83,036,000. Brown Capital Management LLC purchased a new position in shares of Global-E Online in the first quarter valued at $69,352,000. Capital World Investors grew its position in shares of Global-E Online by 60.5% in the first quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock valued at $181,150,000 after purchasing an additional 1,877,953 shares in the last quarter. Fred Alger Management LLC bought a new stake in shares of Global-E Online during the 3rd quarter valued at $53,493,000. Finally, Dragoneer Investment Group LLC lifted its holdings in Global-E Online by 9.6% during the 2nd quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock worth $534,403,000 after purchasing an additional 1,288,829 shares in the last quarter. 94.60% of the stock is currently owned by hedge funds and other 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.