Global-E Online (NASDAQ:GLBE) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Global-E Online (NASDAQ:GLBE) had its target price increased by The Goldman Sachs Group from $56.00 to $63.00 in a report published on Friday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other research analysts have also issued reports about the company. Wells Fargo & Company increased their target price on Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Morgan Stanley downgraded Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective on the stock. in a report on Friday, October 18th. KeyCorp boosted their target price on Global-E Online from $38.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Needham & Company LLC restated a “buy” rating and issued a $48.00 price target on shares of Global-E Online in a report on Monday, November 18th. Finally, Piper Sandler lifted their price target on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.25.

Global-E Online Price Performance

Shares of GLBE stock opened at $53.42 on Friday. The firm’s 50-day simple moving average is $50.50 and its 200-day simple moving average is $41.04. Global-E Online has a 1-year low of $28.11 and a 1-year high of $57.85. The firm has a market cap of $8.77 billion, a P/E ratio of -92.10 and a beta of 1.22.

Institutional Investors Weigh In On Global-E Online

A number of large investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in Global-E Online in the 3rd quarter worth $32,000. Toronto Dominion Bank purchased a new stake in shares of Global-E Online during the second quarter worth about $40,000. Venturi Wealth Management LLC purchased a new stake in shares of Global-E Online during the third quarter worth about $87,000. Quarry LP lifted its stake in shares of Global-E Online by 226.1% in the third quarter. Quarry LP now owns 2,286 shares of the company’s stock worth $88,000 after acquiring an additional 1,585 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Global-E Online in the second quarter valued at about $220,000. 94.60% of the stock is owned by institutional investors and hedge funds.

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.