JMP Securities Forecasts Strong Price Appreciation for Global-E Online (NASDAQ:GLBE) Stock

Global-E Online (NASDAQ:GLBE) had its target price raised by equities research analysts at JMP Securities from $46.00 to $64.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price target would suggest a potential upside of 28.28% from the company’s previous close.

A number of other equities analysts also recently commented on GLBE. KeyCorp lowered their target price on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Piper Sandler reaffirmed a “buy” rating on shares of Global-E Online in a research report on Friday, October 18th. Needham & Company LLC reissued a “buy” rating and set a $48.00 target price on shares of Global-E Online in a research report on Monday, November 18th. Benchmark upped their price target on Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 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 on the stock. in a report on Friday, October 18th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.92.

Global-E Online Stock Performance

Shares of Global-E Online stock opened at $49.89 on Thursday. Global-E Online has a one year low of $28.11 and a one year high of $52.26. The company has a market cap of $8.19 billion, a PE ratio of -76.75 and a beta of 1.10. The business has a 50-day simple moving average of $39.16 and a 200-day simple moving average of $35.24.

Institutional Investors Weigh In On Global-E Online

Several hedge funds have recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in Global-E Online during the 3rd quarter valued at approximately $32,000. Toronto Dominion Bank purchased a new stake in shares of Global-E Online during the second quarter worth approximately $40,000. Venturi Wealth Management LLC acquired a new stake in shares of Global-E Online during the third quarter worth $87,000. Quarry LP grew its position in Global-E Online by 226.1% in the 3rd 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 increased its stake in Global-E Online by 18.4% in the 1st 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 period. Institutional investors and hedge funds own 94.60% of the company’s stock.

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.