Global-E Online’s (GLBE) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Global-E Online (NASDAQ:GLBE) in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a $48.00 target price on the stock.

GLBE has been the topic of several other research reports. Bank of America decreased their price target on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Piper Sandler reaffirmed a “buy” rating on shares of Global-E Online in a report on Friday, October 18th. Morgan Stanley cut shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price target on the stock. in a report on Friday, October 18th. UBS Group decreased their price target on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Finally, KeyCorp decreased their price target on shares of 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 ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.27.

Global-E Online Price Performance

NASDAQ:GLBE opened at $40.82 on Monday. The company has a market cap 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 stock’s fifty day moving average price is $38.28 and its two-hundred day moving average price is $34.85.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GLBE. Capital Performance Advisors LLP bought a new position in shares of Global-E Online during the third quarter valued at about $32,000. Toronto Dominion Bank bought a new position in shares of Global-E Online during the second quarter valued at about $40,000. Venturi Wealth Management LLC bought a new position in shares of Global-E Online during the third quarter valued at about $87,000. Quarry LP grew its stake in shares of Global-E Online by 226.1% during the third quarter. Quarry LP now owns 2,286 shares of the company’s stock valued at $88,000 after buying an additional 1,585 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Global-E Online by 18.4% during the first 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 last quarter. 94.60% of the stock is owned by institutional investors.

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.