Needham & Company LLC Raises Global-E Online (NASDAQ:GLBE) Price Target to $64.00

Global-E Online (NASDAQ:GLBE) had its price target raised by analysts at Needham & Company LLC from $55.00 to $64.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 23.68% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. Jefferies Financial Group upped 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. Benchmark upped their price target on Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Morgan Stanley upped their price target on Global-E Online from $52.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday. The Goldman Sachs Group upped their price objective on Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Piper Sandler upped their price objective on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.67.

Global-E Online Stock Down 16.4 %

GLBE traded down $10.16 during trading on Wednesday, hitting $51.75. The company’s stock had a trading volume of 2,203,722 shares, compared to its average volume of 1,344,555. Global-E Online has a twelve month low of $28.11 and a twelve month high of $63.69. The stock’s fifty day moving average price is $56.99 and its 200-day moving average price is $45.51. The firm has a market capitalization of $8.50 billion, a P/E ratio of -88.78, a PEG ratio of 6.47 and a beta of 1.23.

Institutional Trading of Global-E Online

Institutional investors have recently added to or reduced their stakes in the stock. Fred Alger Management LLC purchased a new stake in Global-E Online during the 3rd quarter worth about $53,493,000. JPMorgan Chase & Co. increased its stake in Global-E Online by 40.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after acquiring an additional 533,675 shares during the last quarter. TimesSquare Capital Management LLC increased its stake in Global-E Online by 6.3% in the 4th quarter. TimesSquare Capital Management LLC now owns 770,999 shares of the company’s stock worth $42,043,000 after acquiring an additional 45,739 shares during the last quarter. Mount Yale Investment Advisors LLC increased its stake in Global-E Online by 143.8% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 20,507 shares of the company’s stock worth $1,118,000 after acquiring an additional 12,094 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its stake in Global-E Online by 23.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 51,950 shares of the company’s stock worth $1,997,000 after acquiring an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors 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.