Global-E Online (NASDAQ:GLBE) Price Target Raised to $63.00

Global-E Online (NASDAQ:GLBE) had its price target increased by The Goldman Sachs Group from $56.00 to $63.00 in a report published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on GLBE. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a report on Monday, November 18th. Raymond James boosted their target price on Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Jefferies Financial Group increased their price target on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. JMP Securities boosted their price target on shares of Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 21st. Finally, Piper Sandler raised their price target on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Global-E Online presently has a consensus rating of “Moderate Buy” and an average target price of $53.25.

Global-E Online Price Performance

NASDAQ GLBE opened at $53.42 on Friday. The firm’s fifty day moving average price is $50.50 and its 200 day moving average price is $41.04. Global-E Online has a 12 month low of $28.11 and a 12 month high of $57.85. The company has a market capitalization of $8.77 billion, a price-to-earnings ratio of -92.10 and a beta of 1.22.

Hedge Funds Weigh In On Global-E Online

Hedge funds have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new stake in shares of Global-E Online in the third quarter valued at $32,000. Toronto Dominion Bank purchased a new position in Global-E Online in the 2nd quarter valued at about $40,000. Venturi Wealth Management LLC acquired a new stake in shares of Global-E Online during the 3rd quarter worth about $87,000. Quarry LP grew its holdings in shares of Global-E Online by 226.1% during the third quarter. Quarry LP now owns 2,286 shares of the company’s stock worth $88,000 after buying an additional 1,585 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new stake in shares of Global-E Online during the third quarter worth about $223,000. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

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.