Global-E Online (NASDAQ:GLBE) Price Target Raised to $63.00 at The Goldman Sachs Group

Global-E Online (NASDAQ:GLBE) had its target price boosted by research analysts at The Goldman Sachs Group from $56.00 to $63.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 17.93% from the stock’s previous close.

A number of other analysts have also recently weighed in on GLBE. Jefferies Financial Group boosted their price objective on shares of Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Wells Fargo & Company lifted their target price on shares of Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. JMP Securities upped their price target 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, November 21st. Morgan Stanley lowered Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective on the stock. in a research note on Friday, October 18th. Finally, Benchmark boosted their price objective on Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Global-E Online has a consensus rating of “Moderate Buy” and an average price target of $53.25.

Global-E Online Stock Performance

GLBE opened at $53.42 on Friday. The firm has a market cap of $8.77 billion, a P/E ratio of -92.10 and a beta of 1.22. The business has a 50 day moving average price of $50.50 and a 200 day moving average price of $40.99. Global-E Online has a twelve month low of $28.11 and a twelve month high of $57.85.

Institutional Trading of Global-E Online

A number of institutional investors and hedge funds have recently modified their holdings of the company. CIBC Asset Management Inc lifted its position in Global-E Online by 4.4% in the third quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock worth $362,000 after purchasing an additional 393 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Global-E Online by 7.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 7,300 shares of the company’s stock worth $265,000 after acquiring an additional 500 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Global-E Online by 1.6% during the 3rd quarter. Van ECK Associates Corp now owns 32,828 shares of the company’s stock worth $1,235,000 after acquiring an additional 508 shares during the period. Lombard Odier Asset Management USA Corp boosted its position in shares of Global-E Online by 6.2% during the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 10,782 shares of the company’s stock valued at $391,000 after acquiring an additional 632 shares in the last quarter. Finally, Focus Financial Network Inc. increased its stake in Global-E Online by 11.2% in the third quarter. Focus Financial Network Inc. now owns 6,899 shares of the company’s stock valued at $265,000 after acquiring an additional 694 shares during the period. 94.60% of the stock is currently owned by 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.