Global-E Online (NASDAQ:GLBE) Price Target Raised to $66.00

Global-E Online (NASDAQ:GLBE) had its target price upped by equities research analysts at Piper Sandler from $63.00 to $66.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 25.59% from the stock’s previous close.

GLBE has been the topic of several other reports. KeyCorp raised their price objective on Global-E Online from $38.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Morgan Stanley cut shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price target on the stock. in a research note on Friday, October 18th. JMP Securities upped 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 report on Thursday, November 21st. Jefferies Financial Group lifted their target price on shares of Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Finally, Wells Fargo & Company upped their price target on shares of 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 research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.58.

Global-E Online Stock Performance

Shares of Global-E Online stock opened at $52.55 on Monday. Global-E Online has a fifty-two week low of $28.11 and a fifty-two week high of $57.85. The company has a market cap of $8.63 billion, a P/E ratio of -90.60 and a beta of 1.22. The firm has a 50-day simple moving average of $49.64 and a two-hundred day simple moving average of $40.61.

Hedge Funds Weigh In On Global-E Online

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB purchased a new position in shares of Global-E Online during the 4th quarter worth $451,000. JPMorgan Chase & Co. raised its stake in Global-E Online by 40.7% during the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after purchasing an additional 533,675 shares during the period. Franklin Resources Inc. purchased a new stake in shares of Global-E Online in the 3rd quarter valued at approximately $223,000. Tidal Investments LLC increased its holdings in shares of Global-E Online by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 70,792 shares of the company’s stock worth $2,721,000 after buying an additional 3,129 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Global-E Online by 83.2% during the 3rd quarter. Barclays PLC now owns 29,636 shares of the company’s stock valued at $1,139,000 after buying an additional 13,463 shares during the period. 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.