Global-E Online Ltd. (NASDAQ:GLBE) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Global-E Online Ltd. (NASDAQ:GLBE) have been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $51.33.

Several brokerages have recently weighed in on GLBE. Wells Fargo & Company increased their target price on shares of Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Bank of America reduced their price objective on shares of 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 restated an “overweight” rating and set a $63.00 target price (up previously from $44.00) on shares of Global-E Online in a research report on Thursday, November 21st. Morgan Stanley downgraded 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. Finally, Jefferies Financial Group boosted their price objective on Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 18th.

Global-E Online Stock Performance

NASDAQ:GLBE opened at $53.92 on Tuesday. The firm has a market capitalization of $8.86 billion, a PE ratio of -92.97 and a beta of 1.24. The stock’s fifty day moving average is $42.43 and its 200 day moving average is $37.07. Global-E Online has a fifty-two week low of $28.11 and a fifty-two week high of $54.55.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Clearbridge Investments LLC purchased a new stake in shares of Global-E Online in the 2nd quarter worth approximately $83,036,000. Fred Alger Management LLC bought a new position in Global-E Online in the third quarter worth approximately $53,493,000. Dragoneer Investment Group LLC lifted its holdings in Global-E Online by 9.6% during the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock worth $534,403,000 after buying an additional 1,288,829 shares during the period. Hood River Capital Management LLC bought a new stake in Global-E Online during the 2nd quarter valued at $36,182,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Global-E Online by 369.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 847,094 shares of the company’s stock valued at $30,724,000 after acquiring an additional 666,491 shares during the period. 94.60% of the stock is currently 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.