Global-E Online (NASDAQ:GLBE) Earns Buy Rating from Needham & Company LLC

Global-E Online (NASDAQ:GLBE)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a report released on Monday,Benzinga reports. They presently have a $48.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 12.31% from the company’s previous close.

A number of other research analysts also recently issued reports on GLBE. Piper Sandler restated a “buy” rating on shares of Global-E Online in a research report on Friday, October 18th. KeyCorp dropped their price target on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. UBS Group dropped their target price on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Bank of America dropped their target price on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, Morgan Stanley downgraded shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 target price on the stock. in a research report on Friday, October 18th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Global-E Online currently has a consensus rating of “Moderate Buy” and an average target price of $44.27.

Global-E Online Stock Performance

Shares of NASDAQ GLBE opened at $42.74 on Monday. The company has a market capitalization of $7.02 billion, a P/E ratio of -65.75 and a beta of 1.10. Global-E Online has a 52-week low of $28.11 and a 52-week high of $43.52. The company’s 50 day moving average price is $38.42 and its 200-day moving average price is $34.93.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GLBE. Capital Performance Advisors LLP bought a new stake in shares of Global-E Online in the 3rd quarter worth $32,000. Toronto Dominion Bank bought a new stake in shares of Global-E Online in the 2nd quarter worth $40,000. Venturi Wealth Management LLC bought a new stake in shares of Global-E Online in the 3rd quarter worth $87,000. Quarry LP grew its stake in shares of Global-E Online by 226.1% in the 3rd 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, DekaBank Deutsche Girozentrale grew its stake in shares of Global-E Online by 18.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after acquiring an additional 624 shares in the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.

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.