Global-E Online’s (GLBE) “Overweight” Rating Reiterated at Piper Sandler

Global-E Online (NASDAQ:GLBE)‘s stock had its “overweight” rating restated by equities researchers at Piper Sandler in a note issued to investors on Thursday,Benzinga reports. They presently have a $63.00 price target on the stock, up from their previous price target of $44.00. Piper Sandler’s price target suggests a potential upside of 31.63% from the company’s previous close.

Other equities research analysts have also issued reports about the company. JMP Securities increased their price target on Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a research report on Thursday. KeyCorp lowered their target price on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Morgan Stanley cut shares of 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. Jefferies Financial Group lifted their target price on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Bank of America reduced their target price on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.64.

Global-E Online Stock Performance

Shares of GLBE opened at $47.86 on Thursday. The firm has a market capitalization of $7.86 billion, a P/E ratio of -73.63 and a beta of 1.10. Global-E Online has a 52 week low of $28.11 and a 52 week high of $52.26. The stock has a 50 day moving average price of $38.65 and a two-hundred day moving average price of $35.02.

Hedge Funds Weigh In On Global-E Online

Several institutional investors have recently modified their holdings of the company. Dragoneer Investment Group LLC boosted its stake in 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 buying an additional 1,288,829 shares in the last quarter. Abdiel Capital Advisors LP raised its position in Global-E Online by 1.4% in the 2nd 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 period. Capital World Investors increased its holdings in shares of Global-E Online by 60.5% in the first quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock worth $181,150,000 after buying an additional 1,877,953 shares during the period. Clearbridge Investments LLC bought a new stake in shares of Global-E Online in the 2nd quarter valued at about $83,036,000. Finally, Brown Capital Management LLC bought a new position in Global-E Online during the 1st quarter worth approximately $69,352,000. 94.60% of the stock is currently owned by 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.