KeyCorp Forecasts Strong Price Appreciation for Global-E Online (NASDAQ:GLBE) Stock

Global-E Online (NASDAQ:GLBE) had its price target increased by stock analysts at KeyCorp from $38.00 to $55.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price would suggest a potential upside of 6.05% from the stock’s current price.

A number of other research firms also recently issued reports on GLBE. Needham & Company LLC restated a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a report on Monday, November 18th. Jefferies Financial Group boosted their price objective on shares of Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Raymond James boosted their price target on Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Benchmark raised their price objective on Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Finally, JMP Securities boosted their target price on Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a report on Thursday, November 21st. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Global-E Online has a consensus rating of “Moderate Buy” and a consensus target price of $51.33.

Global-E Online Trading Up 0.4 %

Shares of NASDAQ:GLBE opened at $51.86 on Tuesday. The firm has a market cap of $8.52 billion, a price-to-earnings ratio of -89.31 and a beta of 1.10. The stock’s 50-day moving average price is $39.75 and its two-hundred day moving average price is $35.61. Global-E Online has a 12-month low of $28.11 and a 12-month high of $52.57.

Institutional Trading of Global-E Online

A number of hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its stake in Global-E Online by 15.2% in the first quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock worth $215,000 after purchasing an additional 780 shares in the last quarter. American International Group Inc. raised its position in shares of Global-E Online by 3.2% during the 1st quarter. American International Group Inc. now owns 15,619 shares of the company’s stock valued at $568,000 after acquiring an additional 484 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Global-E Online by 28.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,985 shares of the company’s stock worth $654,000 after purchasing an additional 3,985 shares during the last quarter. Silvercrest Asset Management Group LLC acquired a new position in Global-E Online in the first quarter worth $480,000. Finally, California State Teachers Retirement System increased its stake in Global-E Online by 12.4% during the first quarter. California State Teachers Retirement System now owns 127,869 shares of the company’s stock valued at $4,648,000 after purchasing an additional 14,139 shares during 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.