Global-E Online (NASDAQ:GLBE) Price Target Raised to $55.00 at KeyCorp

Global-E Online (NASDAQ:GLBE) had its target price upped by KeyCorp from $38.00 to $55.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price objective would indicate a potential upside of 5.73% from the stock’s current price.

Several other research firms have also recently issued reports on GLBE. Bank of America lowered their price objective 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. Jefferies Financial Group increased their price objective on Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. 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, November 18th. UBS Group lowered their target price on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $63.00 price target (up from $44.00) on shares of Global-E Online in a research note on Thursday, November 21st. One 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 stock has an average rating of “Moderate Buy” and a consensus target price of $51.33.

Global-E Online Stock Performance

NASDAQ:GLBE opened at $52.02 on Tuesday. The firm has a 50-day simple moving average of $39.47 and a two-hundred day simple moving average of $35.45. The firm has a market cap of $8.54 billion, a P/E ratio of -89.69 and a beta of 1.10. Global-E Online has a fifty-two week low of $28.11 and a fifty-two week high of $52.37.

Hedge Funds Weigh In On Global-E Online

Several hedge funds have recently modified their holdings of GLBE. Tidal Investments LLC purchased a new stake in Global-E Online during the first quarter valued at $2,521,000. Dragoneer Investment Group LLC lifted its holdings in shares of Global-E Online by 9.6% in the 2nd quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after acquiring an additional 1,288,829 shares during the last quarter. WINTON GROUP Ltd purchased a new position in Global-E Online in the second quarter worth about $623,000. Clearbridge Investments LLC purchased a new position in Global-E Online in the second quarter worth about $83,036,000. Finally, Summit Creek Advisors LLC bought a new stake in Global-E Online during the second quarter worth approximately $11,449,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.

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.