Global-E Online Ltd. (NASDAQ:GLBE) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Global-E Online Ltd. (NASDAQ:GLBE) have been given a consensus rating of “Moderate Buy” by the twelve brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $51.33.

GLBE has been the subject of several recent research reports. Wells Fargo & Company upped their price target on Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Morgan Stanley lowered Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 target price for the company. in a research note on Friday, October 18th. Needham & Company LLC reiterated a “buy” rating and set a $48.00 price target on shares of Global-E Online in a research note on Monday, November 18th. KeyCorp increased their price objective on shares of Global-E Online from $38.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, Benchmark lifted their target price on shares of Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 18th.

Global-E Online Stock Performance

Shares of GLBE opened at $54.98 on Friday. The company has a 50-day simple moving average of $49.06 and a 200-day simple moving average of $40.17. Global-E Online has a 52 week low of $28.11 and a 52 week high of $57.85. The firm has a market capitalization of $9.03 billion, a P/E ratio of -94.79 and a beta of 1.24.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GLBE. Capital Performance Advisors LLP bought a new position in Global-E Online in the 3rd quarter valued at $32,000. Toronto Dominion Bank acquired a new stake in shares of Global-E Online in the second quarter valued at $40,000. Venturi Wealth Management LLC bought a new position in shares of Global-E Online in the third quarter valued at about $87,000. Quarry LP lifted its position in Global-E Online by 226.1% during the 3rd quarter. Quarry LP now owns 2,286 shares of the company’s stock worth $88,000 after buying an additional 1,585 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Global-E Online during the 2nd quarter worth about $220,000. 94.60% of the stock is owned by institutional investors and hedge funds.

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.