Global-E Online (NASDAQ:GLBE) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Global-E Online (NASDAQ:GLBE) in a research report report published on Monday morning,Benzinga reports. They currently have a $48.00 target price on the stock.

A number of other brokerages have also recently issued reports on GLBE. KeyCorp reduced their target price on 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 cut their price target on shares of 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. Morgan Stanley cut shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective for the company. in a report on Friday, October 18th. UBS Group cut 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 report on Friday, October 18th. Finally, Piper Sandler reissued a “buy” rating on shares of Global-E Online in a report 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, Global-E Online currently has an average rating of “Moderate Buy” and an average target price of $49.92.

Global-E Online Stock Up 4.2 %

GLBE stock opened at $49.89 on Monday. Global-E Online has a twelve month low of $28.11 and a twelve month high of $52.26. The company has a market cap of $8.19 billion, a P/E ratio of -76.75 and a beta of 1.10. The business’s fifty day moving average is $38.90 and its 200-day moving average is $35.12.

Institutional Trading of Global-E Online

A number of institutional investors have recently modified their holdings of the company. Tidal Investments LLC bought a new stake in shares of Global-E Online in the first quarter worth $2,521,000. Capital International Investors lifted its position in Global-E Online by 51.2% during the 1st quarter. Capital International Investors now owns 1,003,229 shares of the company’s stock worth $36,467,000 after buying an additional 339,591 shares in the last quarter. Dragoneer Investment Group LLC lifted its position in Global-E Online by 9.6% during the 2nd 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 in the last quarter. WINTON GROUP Ltd acquired a new position in shares of Global-E Online during the 2nd quarter worth about $623,000. Finally, Clearbridge Investments LLC bought a new position in shares of Global-E Online in the 2nd quarter valued at about $83,036,000. 94.60% of the stock is currently owned by institutional investors.

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.