Global-E Online's (GLBE) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Global-E Online (NASDAQ:GLBE - Free Report) in a report issued on Thursday morning,Benzinga reports. Piper Sandler currently has a $63.00 target price on the stock, up from their previous target price of $44.00.

GLBE has been the subject of several other research reports. Benchmark lifted their price objective on Global-E Online from $41.00 to $45.00 and gave the stock a "buy" rating in a report on Monday. UBS Group reduced their price target on shares of Global-E Online from $50.00 to $48.00 and set a "buy" rating for the company in a research report on Friday, October 18th. 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. 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 report on Thursday, August 15th. Finally, 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 research note on Friday, October 18th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Global-E Online currently has an average rating of "Moderate Buy" and a consensus target price of $49.92.

Global-E Online Price Performance

Global-E Online stock traded up $2.03 during midday trading on Thursday, reaching $49.89. 4,083,354 shares of the company traded hands, compared to its average volume of 1,125,225. Global-E Online has a 12 month low of $28.11 and a 12 month high of $52.26. The business has a 50 day moving average of $38.65 and a two-hundred day moving average of $35.02. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of -76.91 and a beta of 1.10.

Institutional Trading of Global-E Online

Several hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new stake in shares of Global-E Online in the third quarter worth about $32,000. Toronto Dominion Bank purchased a new stake in shares of Global-E Online during the 2nd quarter worth approximately $40,000. Venturi Wealth Management LLC bought a new position in shares of Global-E Online during the 3rd quarter valued at approximately $87,000. Quarry LP grew its holdings in shares of Global-E Online by 226.1% in the third quarter. Quarry LP now owns 2,286 shares of the company's stock valued at $88,000 after purchasing an additional 1,585 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in Global-E Online by 18.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company's stock worth $146,000 after purchasing 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.