Global-E Online (NASDAQ:GLBE) Given New $50.00 Price Target at Jefferies Financial Group

Global-E Online (NASDAQ:GLBE) had its price target boosted by Jefferies Financial Group from $45.00 to $50.00 in a report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued research reports about the stock. UBS Group cut their price objective on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Benchmark raised their price objective on Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday. 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 research report on Thursday, August 15th. Piper Sandler reiterated a “buy” rating on shares of Global-E Online in a research note on Friday, October 18th. Finally, Morgan Stanley cut 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 research note on Friday, October 18th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.27.

Global-E Online Trading Up 1.3 %

Shares of GLBE stock opened at $40.82 on Monday. The firm has a market capitalization of $6.70 billion, a P/E ratio of -62.80 and a beta of 1.10. Global-E Online has a 1 year low of $28.11 and a 1 year high of $43.52. The firm’s fifty day simple moving average is $38.28 and its 200 day simple moving average is $34.85.

Hedge Funds Weigh In On Global-E Online

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Clearbridge Investments LLC bought a new position in shares of Global-E Online in the second quarter valued at approximately $83,036,000. Brown Capital Management LLC acquired a new position in Global-E Online in the first quarter worth $69,352,000. Capital World Investors grew its holdings in shares of Global-E Online by 60.5% during the first quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock worth $181,150,000 after purchasing an additional 1,877,953 shares during the last quarter. Fred Alger Management LLC acquired a new stake in shares of Global-E Online in the third quarter valued at $53,493,000. Finally, Dragoneer Investment Group LLC increased its stake in shares of Global-E Online by 9.6% in the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after buying an additional 1,288,829 shares in the last quarter. 94.60% of the stock is currently 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.