Global-E Online (NASDAQ:GLBE) Price Target Raised to $55.00

Global-E Online (NASDAQ:GLBE) had its price target upped by KeyCorp from $38.00 to $55.00 in a research note released on Tuesday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

GLBE has been the subject of a number of other research reports. Piper Sandler restated an “overweight” rating and issued a $63.00 target price (up previously from $44.00) on shares of Global-E Online in a research note on Thursday, November 21st. UBS Group decreased their target price on Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, October 18th. JMP Securities increased 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 report on Thursday, November 21st. Morgan Stanley cut shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective for the company. in a research note on Friday, October 18th. Finally, Raymond James increased their price objective on shares of Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.33.

Global-E Online Stock Up 0.4 %

GLBE stock opened at $51.86 on Tuesday. The stock has a market capitalization of $8.52 billion, a PE ratio of -89.41 and a beta of 1.10. Global-E Online has a 52 week low of $28.11 and a 52 week high of $52.57. The firm has a 50 day moving average of $40.03 and a 200 day moving average of $35.72.

Institutional Investors Weigh In On Global-E Online

Several hedge funds have recently modified their holdings of the company. Clearbridge Investments LLC purchased a new position in shares of Global-E Online in the 2nd quarter valued at about $83,036,000. Fred Alger Management LLC purchased a new stake in shares of Global-E Online in the third quarter valued at approximately $53,493,000. Dragoneer Investment Group LLC raised its stake in shares of Global-E Online by 9.6% during the 2nd quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock worth $534,403,000 after buying an additional 1,288,829 shares during the period. Hood River Capital Management LLC purchased a new position in shares of Global-E Online during the 2nd quarter valued at approximately $36,182,000. Finally, Assenagon Asset Management S.A. grew its stake in Global-E Online by 369.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 847,094 shares of the company’s stock valued at $30,724,000 after acquiring an additional 666,491 shares during the period. 94.60% of the stock is 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.