Global-E Online (NASDAQ:GLBE) Given New $64.00 Price Target at JMP Securities

Global-E Online (NASDAQ:GLBE) had its target price hoisted by JMP Securities from $46.00 to $64.00 in a report published on Thursday morning,Benzinga reports. The firm currently has a market outperform rating on the stock.

GLBE has been the subject of several other reports. Piper Sandler reiterated a “buy” rating on shares of Global-E Online in a report on Friday, October 18th. Bank of America reduced their price objective on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Benchmark increased their price target 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. UBS Group cut their price objective on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $48.00 target price on shares of Global-E Online in a research report on Monday. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.92.

Global-E Online Price Performance

Shares of NASDAQ:GLBE traded down $0.37 during trading on Thursday, reaching $49.52. 315,370 shares of the company were exchanged, compared to its average volume of 1,121,407. The firm has a market capitalization of $8.13 billion, a PE ratio of -76.75 and a beta of 1.10. The business’s fifty day simple moving average is $38.90 and its 200-day simple moving average is $35.12. Global-E Online has a 12-month low of $28.11 and a 12-month high of $52.26.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GLBE. CIBC Asset Management Inc lifted its holdings in shares of Global-E Online by 4.4% during the third quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock worth $362,000 after purchasing an additional 393 shares during the period. American International Group Inc. lifted its stake in Global-E Online by 3.2% during the 1st quarter. American International Group Inc. now owns 15,619 shares of the company’s stock valued at $568,000 after acquiring an additional 484 shares during the period. Daiwa Securities Group Inc. lifted its stake in Global-E Online by 7.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 7,300 shares of the company’s stock valued at $265,000 after acquiring an additional 500 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Global-E Online by 1.6% in the 3rd quarter. Van ECK Associates Corp now owns 32,828 shares of the company’s stock valued at $1,235,000 after acquiring an additional 508 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of 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 acquiring an additional 624 shares during the period. 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.