Raymond James Forecasts Strong Price Appreciation for Global-E Online (NASDAQ:GLBE) Stock

Global-E Online (NASDAQ:GLBE) had its price target raised by equities researchers at Raymond James from $41.00 to $55.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price target would suggest a potential upside of 10.24% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. KeyCorp dropped their price target on Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. JMP Securities upped 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 report on Thursday. Bank of America dropped their price objective on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Wells Fargo & Company lifted their target price on Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $63.00 price objective (up previously from $44.00) on shares of Global-E Online in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Global-E Online currently has an average rating of “Moderate Buy” and an average target price of $49.92.

Global-E Online Price Performance

GLBE stock 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 firm’s 50-day moving average is $39.16 and its 200 day moving average is $35.24. The company has a market capitalization of $8.19 billion, a PE ratio of -76.75 and a beta of 1.10.

Institutional Investors Weigh In On Global-E Online

Large investors have recently made changes to their positions in the stock. Tidal Investments LLC acquired a new stake in Global-E Online during the 1st quarter worth about $2,521,000. Capital International Investors lifted its holdings in shares of Global-E Online by 51.2% in the 1st quarter. Capital International Investors now owns 1,003,229 shares of the company’s stock valued at $36,467,000 after buying an additional 339,591 shares during the period. Dragoneer Investment Group LLC grew its holdings in Global-E Online by 9.6% during 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. WINTON GROUP Ltd acquired a new stake in Global-E Online during the second quarter worth about $623,000. Finally, Clearbridge Investments LLC acquired a new position in Global-E Online in the second quarter valued at approximately $83,036,000. 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.