Global-E Online (NASDAQ:GLBE) Given New $60.00 Price Target at Wells Fargo & Company

Global-E Online (NASDAQ:GLBE - Get Free Report) had its price target boosted by investment analysts at Wells Fargo & Company from $45.00 to $60.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's target price would indicate a potential upside of 20.26% from the company's current price.

A number of other research analysts have also recently weighed in on GLBE. JMP Securities boosted their target price on shares of Global-E Online from $46.00 to $64.00 and gave the company a "market outperform" rating in a research note on Thursday. Bank of America decreased their target price 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 decreased their target price 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. Piper Sandler reissued an "overweight" rating and issued a $63.00 price target (up previously from $44.00) on shares of Global-E Online in a report on Thursday. Finally, Benchmark upped their price objective on shares of Global-E Online from $41.00 to $45.00 and gave the company a "buy" rating in a research note 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $49.92.

Global-E Online Stock Performance

Shares of NASDAQ:GLBE traded up $2.03 during mid-day trading on Thursday, reaching $49.89. 4,083,345 shares of the company's stock were exchanged, compared to its average volume of 1,125,225. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of -76.91 and a beta of 1.10. The business's fifty day moving average price is $38.65 and its 200-day moving average price is $35.02. Global-E Online has a twelve month low of $28.11 and a twelve month high of $52.26.

Institutional Trading of Global-E Online

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Clearbridge Investments LLC purchased a new stake in shares of Global-E Online during the 2nd quarter valued at about $83,036,000. Brown Capital Management LLC purchased a new stake in shares of Global-E Online during the 1st quarter valued at about $69,352,000. Capital World Investors boosted its holdings in shares of Global-E Online by 60.5% during the 1st quarter. Capital World Investors now owns 4,983,485 shares of the company's stock valued at $181,150,000 after acquiring an additional 1,877,953 shares during the last quarter. Fred Alger Management LLC purchased a new stake in shares of Global-E Online during the 3rd quarter valued at about $53,493,000. Finally, Dragoneer Investment Group LLC boosted its holdings in shares of 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 during the last quarter. 94.60% of the stock is currently owned by institutional investors.

About Global-E Online

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.