Global-E Online Ltd. (NASDAQ:GLBE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Global-E Online Ltd. (NASDAQ:GLBE) has received a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $51.33.

A number of equities research analysts have weighed in on GLBE shares. Needham & Company LLC restated a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a report on Monday, November 18th. Raymond James upped their price target on Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. KeyCorp lifted their price objective on Global-E Online from $38.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Piper Sandler reissued an “overweight” rating and issued a $63.00 target price (up from $44.00) on shares of Global-E Online in a research note on Thursday, November 21st. Finally, Morgan Stanley lowered Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price target for the company. in a research report on Friday, October 18th.

Global-E Online Price Performance

NASDAQ:GLBE opened at $55.01 on Friday. Global-E Online has a 1-year low of $28.11 and a 1-year high of $57.85. The company has a market capitalization of $9.04 billion, a PE ratio of -94.84 and a beta of 1.24. The firm’s 50-day moving average price is $47.44 and its 200-day moving average price is $39.38.

Hedge Funds Weigh In On Global-E Online

Several hedge funds and other institutional investors have recently bought and sold shares of GLBE. Dragoneer Investment Group LLC grew its stake 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 worth $534,403,000 after acquiring an additional 1,288,829 shares during the period. Abdiel Capital Advisors LP boosted its holdings in Global-E Online by 1.4% in the second quarter. Abdiel Capital Advisors LP now owns 6,776,495 shares of the company’s stock worth $245,783,000 after purchasing an additional 95,741 shares during the last quarter. Clearbridge Investments LLC bought a new stake in Global-E Online in the 2nd quarter worth approximately $83,036,000. JPMorgan Chase & Co. raised its stake 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 valued at $70,979,000 after buying an additional 533,675 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of 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 buying an additional 378,827 shares during the period. Institutional investors own 94.60% of the company’s stock.

Global-E Online Company Profile

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.