Global-E Online (NASDAQ:GLBE) Price Target Raised to $45.00

Global-E Online (NASDAQ:GLBE) had its price objective raised by research analysts at Benchmark from $41.00 to $45.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s target price indicates a potential upside of 5.29% from the company’s current price.

Several other equities research analysts also recently commented on GLBE. UBS Group decreased their target price on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Morgan Stanley downgraded shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective for the company. in a research report on Friday, October 18th. Needham & Company LLC reissued a “buy” rating and set a $48.00 target price on shares of Global-E Online in a research report on Monday. Piper Sandler reissued a “buy” rating on shares of Global-E Online in a research report on Friday, October 18th. Finally, Bank of America dropped their price target 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. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.27.

Global-E Online Trading Up 4.7 %

Shares of NASDAQ GLBE opened at $42.74 on Monday. The firm’s 50-day moving average price is $38.42 and its 200-day moving average price is $34.93. Global-E Online has a 1-year low of $28.11 and a 1-year high of $43.52. The firm has a market capitalization of $7.02 billion, a P/E ratio of -65.75 and a beta of 1.10.

Institutional Investors Weigh In On Global-E Online

A number of large investors have recently added to or reduced their stakes in GLBE. Clearbridge Investments LLC purchased a new position in Global-E Online during the 2nd quarter valued at about $83,036,000. Brown Capital Management LLC purchased a new stake in shares of Global-E Online in the first quarter worth $69,352,000. Capital World Investors increased its stake in shares of Global-E Online by 60.5% in the first quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock worth $181,150,000 after purchasing an additional 1,877,953 shares in the last quarter. Fred Alger Management LLC bought a new position in shares of Global-E Online during the third quarter worth $53,493,000. Finally, Dragoneer Investment Group LLC boosted its position in shares of Global-E Online by 9.6% during the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock worth $534,403,000 after acquiring an additional 1,288,829 shares during the last quarter. 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.