Jefferies Financial Group Forecasts Strong Price Appreciation for Global-E Online (NASDAQ:GLBE) Stock

Global-E Online (NASDAQ:GLBE) had its target price increased by research analysts at Jefferies Financial Group from $45.00 to $50.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 16.99% from the stock’s previous close.

Several other equities research analysts also recently issued reports on GLBE. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price target on shares of Global-E Online in a research note on Monday. Bank of America dropped their price target on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. KeyCorp decreased their price objective on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Morgan Stanley lowered shares of 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. Finally, Piper Sandler reissued a “buy” rating on shares of Global-E Online in a report on Friday, October 18th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.27.

Global-E Online Price Performance

Global-E Online stock opened at $42.74 on Monday. Global-E Online has a 12-month low of $28.11 and a 12-month high of $43.52. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of -65.75 and a beta of 1.10. The firm’s fifty day moving average price is $38.42 and its 200 day moving average price is $34.93.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Tidal Investments LLC acquired a new position in shares of Global-E Online in the 1st quarter valued at about $2,521,000. Capital International Investors boosted its holdings in shares of Global-E Online by 51.2% in the 1st quarter. Capital International Investors now owns 1,003,229 shares of the company’s stock valued at $36,467,000 after buying an additional 339,591 shares during the period. Dragoneer Investment Group LLC boosted its holdings in shares of Global-E Online by 9.6% in the 2nd quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after buying an additional 1,288,829 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Global-E Online in the 2nd quarter valued at about $623,000. Finally, Clearbridge Investments LLC acquired a new position in Global-E Online during the 2nd quarter valued at about $83,036,000. 94.60% of the stock is owned by institutional investors and hedge funds.

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.