Global-E Online (NASDAQ:GLBE) Given "Buy" Rating at Needham & Company LLC

Global-E Online (NASDAQ:GLBE - Get Free Report)'s stock had its "buy" rating reissued by analysts at Needham & Company LLC in a research report issued on Monday,Benzinga reports. They presently have a $48.00 target price on the stock. Needham & Company LLC's price target would suggest a potential upside of 17.59% from the company's current price.

Several other research analysts have also recently commented on the stock. Piper Sandler restated a "buy" rating on shares of Global-E Online in a report on Friday, October 18th. KeyCorp lowered their target price 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. UBS Group decreased their price target 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 cut their price objective on Global-E Online from $47.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, August 15th. Finally, Morgan Stanley downgraded shares of Global-E Online from an "overweight" rating to an "equal weight" rating and set a $40.00 target price on the stock. in a report on Friday, October 18th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.27.

Global-E Online Price Performance

Shares of GLBE traded up $0.52 during trading hours on Monday, hitting $40.82. The stock had a trading volume of 768,121 shares, compared to its average volume of 1,087,620. The company's fifty day moving average is $38.16 and its two-hundred day moving average is $34.79. Global-E Online has a 52 week low of $28.11 and a 52 week high of $43.52. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of -62.60 and a beta of 1.10.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GLBE. Russell Investments Group Ltd. boosted its stake in Global-E Online by 15.2% during the first quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company's stock worth $215,000 after acquiring an additional 780 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Global-E Online by 3.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 48,279 shares of the company's stock valued at $1,755,000 after buying an additional 1,523 shares during the last quarter. American International Group Inc. raised its holdings in shares of Global-E Online by 3.2% in the 1st quarter. American International Group Inc. now owns 15,619 shares of the company's stock valued at $568,000 after acquiring an additional 484 shares in the last quarter. Boulder Hill Capital Management LP increased its stake in Global-E Online by 870.5% in the first quarter. Boulder Hill Capital Management LP now owns 69,500 shares of the company's stock valued at $2,526,000 after acquiring an additional 62,339 shares during the last quarter. Finally, Capital International Investors boosted its stake 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 purchasing an additional 339,591 shares in the last quarter. 94.60% of the stock is 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.