Global-E Online (NASDAQ:GLBE) Price Target Raised to $60.00 at Wells Fargo & Company

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

GLBE has been the topic of several other research reports. Jefferies Financial Group boosted their target price on shares of Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Monday. JMP Securities boosted their price target on shares of Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research note on Thursday. Piper Sandler restated an “overweight” rating and set a $63.00 price objective (up previously from $44.00) on shares of Global-E Online in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a research report on Monday. Finally, Bank of America dropped their price target on Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Global-E Online presently has a consensus rating of “Moderate Buy” and an average target price of $49.92.

Global-E Online Stock Performance

Shares of NASDAQ GLBE traded down $0.37 during midday trading on Thursday, reaching $49.52. The stock had a trading volume of 315,370 shares, compared to its average volume of 1,121,407. The company has a market capitalization of $8.13 billion, a price-to-earnings ratio of -76.75 and a beta of 1.10. Global-E Online has a 12-month low of $28.11 and a 12-month high of $52.26. The stock has a 50-day moving average of $38.90 and a 200-day moving average of $35.12.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GLBE. Capital Performance Advisors LLP bought a new position in Global-E Online in the 3rd quarter valued at $32,000. Toronto Dominion Bank bought a new position in Global-E Online in the 2nd quarter worth about $40,000. Venturi Wealth Management LLC bought a new stake in Global-E Online during the 3rd quarter valued at $87,000. Quarry LP lifted its holdings 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 buying an additional 1,585 shares during the period. Finally, DekaBank Deutsche Girozentrale grew 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 worth $146,000 after buying an additional 624 shares in the last quarter. Institutional investors 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.