Global-E Online Ltd. (NASDAQ:GLBE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Global-E Online Ltd. (NASDAQ:GLBE) have been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $51.33.

A number of brokerages recently commented on GLBE. Jefferies Financial Group upped their price target on shares of Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Raymond James upped their target price on Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $63.00 price objective (up from $44.00) on shares of Global-E Online in a report on Thursday, November 21st. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 price target on shares of Global-E Online in a research note on Monday, November 18th. Finally, Morgan Stanley lowered shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 target price on the stock. in a research report on Friday, October 18th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in Global-E Online by 166.9% during the second quarter. Principal Financial Group Inc. now owns 18,365 shares of the company’s stock valued at $666,000 after purchasing an additional 11,484 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Global-E Online by 32.8% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,649 shares of the company’s stock valued at $277,000 after buying an additional 1,888 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Global-E Online by 7.2% in the second quarter. Van ECK Associates Corp now owns 32,320 shares of the company’s stock worth $1,172,000 after buying an additional 2,161 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Global-E Online by 6.5% during the 2nd quarter. CIBC Asset Management Inc now owns 9,027 shares of the company’s stock worth $327,000 after acquiring an additional 547 shares during the last quarter. Finally, Wealth Effects LLC lifted its stake in shares of Global-E Online by 78.5% during the 2nd quarter. Wealth Effects LLC now owns 14,550 shares of the company’s stock worth $528,000 after acquiring an additional 6,400 shares during the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Global-E Online Price Performance

NASDAQ:GLBE opened at $54.53 on Friday. The company has a market cap of $8.96 billion, a P/E ratio of -94.02 and a beta of 1.24. The firm’s fifty day moving average price is $48.07 and its two-hundred day moving average price is $39.81. Global-E Online has a one year low of $28.11 and a one year high of $57.85.

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.