Global-E Online (NASDAQ:GLBE) Price Target Raised to $55.00

Global-E Online (NASDAQ:GLBE) had its price objective boosted by KeyCorp from $38.00 to $55.00 in a research note issued to investors on Tuesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other brokerages have also recently commented on GLBE. Raymond James increased their target price on shares of Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Morgan Stanley downgraded shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective for the company. in a report on Friday, October 18th. 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. Wells Fargo & Company increased their price target on Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, Needham & Company LLC reissued a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a research note on Monday, November 18th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Global-E Online presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.33.

Global-E Online Stock Performance

NASDAQ GLBE opened at $51.86 on Tuesday. The business has a fifty day moving average price of $40.03 and a 200 day moving average price of $35.72. The company has a market cap of $8.52 billion, a P/E ratio of -89.41 and a beta of 1.10. Global-E Online has a one year low of $28.11 and a one year high of $52.57.

Institutional Investors Weigh In On Global-E Online

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. acquired a new stake in shares of Global-E Online during the third quarter worth about $223,000. Tidal Investments LLC boosted its position in Global-E Online by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 70,792 shares of the company’s stock valued at $2,721,000 after buying an additional 3,129 shares during the period. Barclays PLC grew its stake in shares of Global-E Online by 83.2% in the third quarter. Barclays PLC now owns 29,636 shares of the company’s stock worth $1,139,000 after acquiring an additional 13,463 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Global-E Online by 3.4% during the third quarter. Geode Capital Management LLC now owns 933,476 shares of the company’s stock worth $35,722,000 after acquiring an additional 30,995 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Global-E Online in the third quarter valued at $2,843,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

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.