Global-E Online (NASDAQ:GLBE) Price Target Raised to $60.00 at Wells Fargo & Company

Global-E Online (NASDAQ:GLBE) had its target price upped by Wells Fargo & Company from $45.00 to $60.00 in a report released on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley downgraded Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective on the stock. in a research report on Friday, October 18th. Jefferies Financial Group raised their price target on shares of Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a report on Monday. UBS Group reduced their price objective on shares of 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. KeyCorp lowered their target price on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Finally, Bank of America reduced their price target 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. One analyst has rated the stock with a hold rating and eleven have assigned 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 price target of $49.92.

Global-E Online Stock Performance

NASDAQ:GLBE traded down $0.37 during trading hours on Thursday, reaching $49.52. The company’s stock had a trading volume of 315,370 shares, compared to its average volume of 1,121,407. The stock has a 50 day moving average price of $38.90 and a two-hundred day moving average price of $35.12. The company has a market capitalization of $8.13 billion, a P/E ratio of -76.75 and a beta of 1.10. 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. Clearbridge Investments LLC purchased a new stake in Global-E Online in the second quarter valued at approximately $83,036,000. Brown Capital Management LLC acquired a new stake in Global-E Online during the 1st quarter valued at approximately $69,352,000. Capital World Investors boosted its holdings in shares of Global-E Online by 60.5% in the 1st quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock valued at $181,150,000 after acquiring an additional 1,877,953 shares during the last quarter. Fred Alger Management LLC acquired a new stake in shares of Global-E Online in the third quarter worth $53,493,000. Finally, Dragoneer Investment Group LLC increased its stake in shares of Global-E Online by 9.6% in the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock worth $534,403,000 after acquiring an additional 1,288,829 shares during the period. 94.60% of the stock is owned by institutional investors and hedge funds.

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.