Piper Sandler Reiterates Overweight Rating for Global-E Online (NASDAQ:GLBE)

Global-E Online (NASDAQ:GLBE)‘s stock had its “overweight” rating reaffirmed by investment analysts at Piper Sandler in a note issued to investors on Thursday,Benzinga reports. They presently have a $63.00 price target on the stock, up from their prior price target of $44.00. Piper Sandler’s price objective would suggest a potential upside of 26.28% from the company’s previous close.

A number of other equities research analysts have also weighed in on GLBE. Jefferies Financial Group boosted their price target on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Benchmark upped their price target on shares of Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Needham & Company LLC reiterated a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a research note on Monday, November 18th. JMP Securities upped their target price on Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a research report on Thursday. Finally, Bank of America cut their price objective on Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Global-E Online currently has an average rating of “Moderate Buy” and an average price target of $49.92.

Global-E Online Stock Performance

Shares of GLBE opened at $49.89 on Thursday. Global-E Online has a 12 month low of $28.11 and a 12 month high of $52.26. The stock has a fifty day moving average price of $39.16 and a 200-day moving average price of $35.24. The firm has a market cap of $8.19 billion, a PE ratio of -76.75 and a beta of 1.10.

Institutional Trading of Global-E Online

A number of hedge funds have recently added to or reduced their stakes in the company. Clearbridge Investments LLC purchased a new stake in shares of Global-E Online during the 2nd quarter worth about $83,036,000. Brown Capital Management LLC acquired a new position in Global-E Online in the 1st quarter worth about $69,352,000. Capital World Investors boosted its position in 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 in the last quarter. Fred Alger Management LLC acquired a new stake in Global-E Online in the third quarter valued at approximately $53,493,000. Finally, Dragoneer Investment Group LLC increased its position 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 owned by hedge funds and other 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.