Analysts Set Global-E Online Ltd. (NASDAQ:GLBE) PT at $51.33

Shares of Global-E Online Ltd. (NASDAQ:GLBE) have received an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $51.33.

Several equities research analysts have weighed in on the company. Jefferies Financial Group upped their target price on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Raymond James raised 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. Benchmark upped their price target on shares of Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. 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 research note on Friday, October 18th. Finally, Piper Sandler reaffirmed 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.

Global-E Online Stock Performance

Global-E Online stock opened at $54.53 on Friday. The company has a market capitalization of $8.96 billion, a PE ratio of -94.02 and a beta of 1.24. The company has a 50 day moving average price of $48.07 and a 200-day moving average price of $39.81. Global-E Online has a fifty-two week low of $28.11 and a fifty-two week high of $57.85.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GLBE. Dragoneer Investment Group LLC increased its holdings in shares of 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 valued at $534,403,000 after acquiring an additional 1,288,829 shares in the last quarter. Abdiel Capital Advisors LP grew its holdings in shares of Global-E Online by 1.4% during the second quarter. Abdiel Capital Advisors LP now owns 6,776,495 shares of the company’s stock valued at $245,783,000 after buying an additional 95,741 shares during the last quarter. Clearbridge Investments LLC purchased a new position in Global-E Online in the 2nd quarter worth $83,036,000. JPMorgan Chase & Co. lifted its position in Global-E Online by 40.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after acquiring an additional 533,675 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in Global-E Online by 30.0% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,490 shares of the company’s stock valued at $59,464,000 after purchasing an additional 378,827 shares during the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.

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.