JMP Securities Raises Global-E Online (NASDAQ:GLBE) Price Target to $64.00

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

A number of other research analysts have also issued reports on GLBE. Bank of America lowered their target price on Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Morgan Stanley downgraded Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price target on the stock. in a report on Friday, October 18th. Benchmark increased their target price on shares of Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. KeyCorp reduced their price target on Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Finally, UBS Group cut their target price on Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, October 18th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $49.92.

Global-E Online Stock Performance

Shares of NASDAQ:GLBE opened at $49.89 on Thursday. The company has a 50 day moving average of $39.16 and a 200-day moving average of $35.29. The firm has a market cap of $8.19 billion, a P/E ratio of -86.02 and a beta of 1.10. Global-E Online has a twelve month low of $28.11 and a twelve month high of $52.26.

Institutional Investors Weigh In On Global-E Online

Institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC bought a new stake in Global-E Online in the first quarter valued at $2,521,000. Capital International Investors increased its position in 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 acquiring an additional 339,591 shares in the last quarter. Dragoneer Investment Group LLC increased its position in 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 acquiring an additional 1,288,829 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Global-E Online in the second quarter worth about $623,000. Finally, Clearbridge Investments LLC bought a new stake in shares of Global-E Online during the second quarter valued at approximately $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.