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

Shares of Global-E Online Ltd. (NASDAQ:GLBE) have been assigned an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $51.33.

A number of equities research analysts have recently issued reports on GLBE shares. Needham & Company LLC restated a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a report on Monday, November 18th. 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. Piper Sandler restated an “overweight” rating and issued a $63.00 price target (up from $44.00) on shares of Global-E Online in a research note 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 upped their target price on Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 18th.

Hedge Funds Weigh In On Global-E Online

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

Global-E Online Stock Performance

Shares of GLBE stock opened at $54.52 on Friday. Global-E Online has a 52 week low of $28.11 and a 52 week high of $57.85. The company has a market capitalization of $8.96 billion, a price-to-earnings ratio of -94.00 and a beta of 1.24. The company has a 50-day simple moving average of $47.44 and a 200 day simple moving average of $39.49.

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.