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

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

A number of other equities analysts have also recently commented on GLBE. Wells Fargo & Company lifted their price target on Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. JMP Securities lifted their target price on 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. Jefferies Financial Group increased their price target on Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 18th. The Goldman Sachs Group lifted their price objective on shares of Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a research report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Global-E Online currently has an average rating of “Moderate Buy” and an average price target of $55.33.

Global-E Online Trading Down 1.5 %

Shares of GLBE traded down $0.92 during midday trading on Tuesday, reaching $61.92. The stock had a trading volume of 2,197,852 shares, compared to its average volume of 1,281,841. The firm has a market cap of $10.17 billion, a PE ratio of -106.76, a P/E/G ratio of 6.16 and a beta of 1.23. The firm has a 50 day simple moving average of $56.82 and a 200-day simple moving average of $45.30. Global-E Online has a one year low of $28.11 and a one year high of $63.69.

Institutional Investors Weigh In On Global-E Online

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Fred Alger Management LLC acquired a new position in Global-E Online in the 3rd quarter valued at $53,493,000. JPMorgan Chase & Co. raised its stake in Global-E Online by 40.7% in the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock valued at $70,979,000 after purchasing an additional 533,675 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its position in Global-E Online by 143.8% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 20,507 shares of the company’s stock worth $1,118,000 after purchasing an additional 12,094 shares during the period. Public Sector Pension Investment Board lifted its position in Global-E Online by 23.8% during the third quarter. Public Sector Pension Investment Board now owns 51,950 shares of the company’s stock worth $1,997,000 after purchasing an additional 10,000 shares during the period. Finally, Geode Capital Management LLC grew its stake in Global-E Online by 3.4% during the third quarter. Geode Capital Management LLC now owns 933,476 shares of the company’s stock worth $35,722,000 after buying an additional 30,995 shares in the last quarter. 94.60% of the stock is currently 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.