Global-E Online Ltd. (NASDAQ:GLBE) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Global-E Online Ltd. (NASDAQ:GLBE) have earned an average rating of “Moderate Buy” from the twelve analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $53.25.

Several analysts have issued reports on GLBE shares. Wells Fargo & Company upped their target price on Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. UBS Group dropped their price objective 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. Needham & Company LLC reissued a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a research note on Monday, November 18th. Piper Sandler increased their price objective on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, 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 note on Monday, November 18th.

Global-E Online Price Performance

Shares of GLBE opened at $60.20 on Wednesday. The firm has a market cap of $9.89 billion, a P/E ratio of -103.79, a P/E/G ratio of 5.85 and a beta of 1.22. The stock has a 50 day simple moving average of $54.31 and a two-hundred day simple moving average of $42.74. Global-E Online has a 1 year low of $28.11 and a 1 year high of $60.91.

Hedge Funds Weigh In On Global-E Online

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dragoneer Investment Group LLC lifted its position in Global-E Online by 9.6% during the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after buying an additional 1,288,829 shares during the period. Abdiel Capital Advisors LP lifted its position in Global-E Online by 1.4% during the second quarter. Abdiel Capital Advisors LP now owns 6,776,495 shares of the company’s stock valued at $245,783,000 after buying an additional 95,741 shares during the period. Clearbridge Investments LLC purchased a new position in Global-E Online during the second quarter valued at $83,036,000. JPMorgan Chase & Co. lifted its position in Global-E Online by 40.7% during the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock valued at $70,979,000 after buying an additional 533,675 shares during the period. Finally, Eventide Asset Management LLC lifted its position in Global-E Online by 59.1% during the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock valued at $60,091,000 after buying an additional 580,450 shares during the period. 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.