Global-E Online Ltd. (NASDAQ:GLBE) Receives $51.33 Average PT from Analysts

Shares of Global-E Online Ltd. (NASDAQ:GLBE) have been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $51.33.

A number of research firms recently commented on GLBE. 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 research note on Thursday, November 21st. 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 research report on Friday, October 18th. Needham & Company LLC reiterated a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a research report on Monday, November 18th. JMP Securities lifted their target price on shares of Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company upped their price target on shares of Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st.

Institutional Trading of Global-E Online

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLBE. Clearbridge Investments LLC bought a new position in Global-E Online in the second quarter worth approximately $83,036,000. Fred Alger Management LLC bought a new position in shares of Global-E Online in the 3rd quarter worth $53,493,000. Dragoneer Investment Group LLC increased its stake in Global-E Online by 9.6% during the 2nd quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after purchasing an additional 1,288,829 shares in the last quarter. Hood River Capital Management LLC acquired a new position in Global-E Online during the second quarter worth $36,182,000. Finally, Eventide Asset Management LLC lifted its stake in shares of Global-E Online by 59.1% in the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock valued at $60,091,000 after buying an additional 580,450 shares in the last quarter. 94.60% of the stock is owned by institutional investors.

Global-E Online Trading Down 0.9 %

Shares of GLBE opened at $54.52 on Friday. The stock’s 50-day moving average price is $47.44 and its two-hundred day moving average price is $39.49. Global-E Online has a 12 month low of $28.11 and a 12 month high of $57.85. The company has a market capitalization of $8.96 billion, a PE ratio of -94.00 and a beta of 1.24.

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.