Raymond James Issues Positive Forecast for Global-E Online (NASDAQ:GLBE) Stock Price

Global-E Online (NASDAQ:GLBE) had its price target raised by stock analysts at Raymond James from $41.00 to $55.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ target price suggests a potential upside of 10.24% from the stock’s previous close.

A number of other brokerages have also issued reports on GLBE. Needham & Company LLC reiterated a “buy” rating and set a $48.00 target price on shares of Global-E Online in a research report on Monday, November 18th. Wells Fargo & Company lifted their target price on shares of Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday. Morgan Stanley downgraded shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price target for the company. in a research report on Friday, October 18th. Bank of America lowered their price objective on Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, UBS Group reduced their target price on Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, October 18th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.92.

Global-E Online Stock Performance

NASDAQ GLBE opened at $49.89 on Thursday. Global-E Online has a twelve month low of $28.11 and a twelve month high of $52.26. The stock has a 50-day moving average of $39.16 and a 200 day moving average of $35.24. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of -76.75 and a beta of 1.10.

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. Capital Performance Advisors LLP purchased a new position in shares of Global-E Online during the 3rd quarter worth $32,000. Toronto Dominion Bank acquired a new position in Global-E Online in the 2nd quarter valued at about $40,000. Venturi Wealth Management LLC purchased a new stake in shares of Global-E Online in the 3rd quarter valued at approximately $87,000. Quarry LP increased its holdings in shares of Global-E Online by 226.1% during the 3rd quarter. Quarry LP now owns 2,286 shares of the company’s stock worth $88,000 after buying an additional 1,585 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Global-E Online by 18.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after buying an additional 624 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.