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

Global-E Online (NASDAQ:GLBE - Get Free Report) had its price target lifted by analysts at Benchmark from $41.00 to $45.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Benchmark's price objective points to a potential upside of 10.24% from the stock's previous close.

A number of other equities analysts have also recently weighed in on GLBE. Needham & Company LLC reissued a "buy" rating and set a $48.00 price target on shares of Global-E Online in a research 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. 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 report on Thursday, August 15th. KeyCorp dropped their price objective on shares of Global-E Online from $40.00 to $38.00 and set an "overweight" rating on the stock in a report on Thursday, August 15th. Finally, Morgan Stanley lowered shares of Global-E Online from an "overweight" rating to an "equal weight" rating and set a $40.00 price objective on the stock. in a report on Friday, October 18th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Global-E Online presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.27.

Global-E Online Trading Up 1.3 %

Shares of GLBE traded up $0.52 during mid-day trading on Monday, hitting $40.82. 768,121 shares of the company traded hands, compared to its average volume of 1,087,620. Global-E Online has a one year low of $28.11 and a one year high of $43.52. The business has a 50-day moving average of $38.16 and a 200 day moving average of $34.79. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of -62.60 and a beta of 1.10.

Hedge Funds Weigh In On Global-E Online

A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Global-E Online by 3.4% in the third quarter. Geode Capital Management LLC now owns 933,476 shares of the company's stock valued at $35,722,000 after acquiring an additional 30,995 shares during the period. Barclays PLC boosted its stake in shares of Global-E Online by 83.2% in the 3rd quarter. Barclays PLC now owns 29,636 shares of the company's stock valued at $1,139,000 after purchasing an additional 13,463 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Global-E Online during the 3rd quarter valued at $2,843,000. Pier Capital LLC raised its holdings in Global-E Online by 15.2% during the 3rd quarter. Pier Capital LLC now owns 141,660 shares of the company's stock valued at $5,445,000 after buying an additional 18,646 shares during the last quarter. Finally, Main Management ETF Advisors LLC bought a new stake in Global-E Online during the 3rd quarter valued at $1,879,000. 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.