Global-E Online (NASDAQ:GLBE) Price Target Raised to $66.00

Global-E Online (NASDAQ:GLBE) had its price target hoisted by analysts at Piper Sandler from $63.00 to $66.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 20.04% from the company’s current price.

GLBE has been the subject of several other research reports. UBS Group cut their price target on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, October 18th. Jefferies Financial Group boosted their target price 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. Benchmark raised their price target on shares of Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 18th. JMP Securities boosted their price objective on 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, Raymond James increased their target price on Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Global-E Online presently has a consensus rating of “Moderate Buy” and an average price target of $51.58.

Global-E Online Price Performance

Global-E Online stock opened at $54.98 on Monday. The stock has a market capitalization of $9.03 billion, a PE ratio of -94.79 and a beta of 1.24. The business has a 50 day simple moving average of $49.06 and a 200-day simple moving average of $40.30. Global-E Online has a 12 month low of $28.11 and a 12 month high of $57.85.

Hedge Funds Weigh In On Global-E Online

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