Global-E Online (NASDAQ:GLBE) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Global-E Online (NASDAQ:GLBE) had its price objective increased by Jefferies Financial Group from $45.00 to $50.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently commented on GLBE. Piper Sandler reissued a “buy” rating on shares of Global-E Online in a research report on Friday, October 18th. UBS Group lowered their target price on Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Bank of America reduced their price target on Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. KeyCorp lowered their price objective on Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Finally, 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. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.92.

Global-E Online Price Performance

Shares of GLBE stock opened at $49.89 on Monday. Global-E Online has a 1-year low of $28.11 and a 1-year high of $52.26. The firm has a market cap of $8.19 billion, a PE ratio of -76.75 and a beta of 1.10. The company has a 50-day moving average of $38.90 and a two-hundred day moving average of $35.12.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. CIBC Asset Management Inc lifted its position in shares of Global-E Online by 4.4% during the 3rd quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock valued at $362,000 after acquiring an additional 393 shares during the period. American International Group Inc. boosted its position in Global-E Online by 3.2% during the first quarter. American International Group Inc. now owns 15,619 shares of the company’s stock worth $568,000 after purchasing an additional 484 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Global-E Online by 7.4% in the second quarter. Daiwa Securities Group Inc. now owns 7,300 shares of the company’s stock valued at $265,000 after purchasing an additional 500 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Global-E Online by 1.6% in the third quarter. Van ECK Associates Corp now owns 32,828 shares of the company’s stock valued at $1,235,000 after buying an additional 508 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Global-E Online by 18.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after buying an additional 624 shares during the last quarter. 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.