Global-E Online (NASDAQ:GLBE) Price Target Raised to $60.00

Global-E Online (NASDAQ:GLBE) had its price objective lifted by stock analysts at Wells Fargo & Company from $45.00 to $60.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 25.37% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. KeyCorp dropped their price target 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. Morgan Stanley cut Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price target on the stock. in a report on Friday, October 18th. Benchmark raised their price target on shares of Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Monday. UBS Group dropped their price objective on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Finally, Piper Sandler restated 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. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Global-E Online presently has an average rating of “Moderate Buy” and a consensus price target of $49.45.

Global-E Online Stock Up 12.0 %

Shares of GLBE stock opened at $47.86 on Thursday. Global-E Online has a twelve month low of $28.11 and a twelve month high of $52.26. The stock’s fifty day simple moving average is $38.65 and its 200 day simple moving average is $35.02. The firm has a market capitalization of $7.86 billion, a P/E ratio of -73.63 and a beta of 1.10.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GLBE. Russell Investments Group Ltd. grew its stake in shares of Global-E Online by 15.2% in the 1st quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock worth $215,000 after acquiring an additional 780 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Global-E Online by 3.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 48,279 shares of the company’s stock worth $1,755,000 after purchasing an additional 1,523 shares during the period. American International Group Inc. increased its stake in shares of Global-E Online by 3.2% during the 1st quarter. American International Group Inc. now owns 15,619 shares of the company’s stock worth $568,000 after purchasing an additional 484 shares during the last quarter. Capital International Investors increased its position in Global-E Online by 51.2% in the first quarter. Capital International Investors now owns 1,003,229 shares of the company’s stock worth $36,467,000 after buying an additional 339,591 shares during the last quarter. Finally, Capital World Investors raised its stake in Global-E Online by 60.5% in the 1st quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock valued at $181,150,000 after acquiring an additional 1,877,953 shares during the period. Hedge funds and other 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.