Global-E Online (NASDAQ:GLBE) Price Target Raised to $60.00

Global-E Online (NASDAQ:GLBE) had its target price upped by Wells Fargo & Company from $45.00 to $60.00 in a report issued on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley cut 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 note on Friday, October 18th. Piper Sandler reiterated an “overweight” rating and issued a $63.00 price target (up from $44.00) on shares of Global-E Online in a research note on Thursday. Jefferies Financial Group boosted their price target on shares of Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Benchmark raised their price objective on Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 18th. Finally, KeyCorp dropped their target price on Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.92.

Global-E Online Stock Performance

NASDAQ:GLBE opened at $49.89 on Thursday. The stock has a 50-day simple moving average of $39.16 and a 200 day simple moving average of $35.26. Global-E Online has a 52-week low of $28.11 and a 52-week high of $52.26. The company has a market cap of $8.19 billion, a PE ratio of -86.02 and a beta of 1.10.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Clearbridge Investments LLC acquired a new stake in Global-E Online during the 2nd quarter valued at $83,036,000. Brown Capital Management LLC bought a new stake in shares of Global-E Online during the 1st quarter worth about $69,352,000. Capital World Investors grew its stake in Global-E Online by 60.5% in the 1st quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock valued at $181,150,000 after buying an additional 1,877,953 shares during the last quarter. Fred Alger Management LLC acquired a new position in Global-E Online in the 3rd quarter valued at about $53,493,000. Finally, Dragoneer Investment Group LLC raised its holdings in Global-E Online by 9.6% in the 2nd quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after acquiring an additional 1,288,829 shares during the period. 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.