Wells Fargo & Company Forecasts Strong Price Appreciation for Global-E Online (NASDAQ:GLBE) Stock

Global-E Online (NASDAQ:GLBE) had its price objective raised by Wells Fargo & Company from $45.00 to $60.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also commented on GLBE. Jefferies Financial Group lifted their target price on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a report on Monday, November 18th. Bank of America lowered their target price 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. Morgan Stanley downgraded 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 report on Friday, October 18th. Finally, JMP Securities boosted their price objective on shares of Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.92.

Global-E Online Price Performance

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

Institutional Trading of Global-E Online

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC grew 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 acquiring an additional 13,463 shares during the period. Geode Capital Management LLC lifted its position 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 valued at $35,722,000 after purchasing an additional 30,995 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Global-E Online during the third quarter valued at about $2,843,000. Pier Capital LLC grew its holdings in Global-E Online by 15.2% during the third quarter. Pier Capital LLC now owns 141,660 shares of the company’s stock valued at $5,445,000 after purchasing an additional 18,646 shares during the period. Finally, Main Management ETF Advisors LLC purchased a new stake in Global-E Online in the third quarter worth about $1,879,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-E Online Company Profile

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.