Global-E Online’s (GLBE) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Global-E Online (NASDAQ:GLBE) in a research report sent to investors on Monday,Benzinga reports. The firm currently has a $48.00 price target on the stock.

A number of other research firms have also weighed in on GLBE. KeyCorp dropped 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 report on Thursday, August 15th. Bank of America lowered 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 report on Thursday, August 15th. Morgan Stanley lowered 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 lowered 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 report on Friday, October 18th. Finally, Piper Sandler restated a “buy” rating on shares of Global-E Online in a report on Friday, October 18th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.27.

Global-E Online Trading Up 1.3 %

Global-E Online stock opened at $40.82 on Monday. The firm has a 50-day moving average of $38.28 and a 200-day moving average of $34.85. The firm has a market cap of $6.70 billion, a P/E ratio of -62.80 and a beta of 1.10. Global-E Online has a 1-year low of $28.11 and a 1-year high of $43.52.

Hedge Funds Weigh In On Global-E Online

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in shares of Global-E Online by 3.4% during the third quarter. Geode Capital Management LLC now owns 933,476 shares of the company’s stock valued at $35,722,000 after acquiring an additional 30,995 shares in the last quarter. Barclays PLC increased its position in shares of Global-E Online by 83.2% during the third quarter. Barclays PLC now owns 29,636 shares of the company’s stock valued at $1,139,000 after acquiring an additional 13,463 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Global-E Online during the third quarter valued at approximately $2,843,000. Pier Capital LLC increased its position in shares of Global-E Online by 15.2% during the third quarter. Pier Capital LLC now owns 141,660 shares of the company’s stock valued at $5,445,000 after acquiring an additional 18,646 shares in the last quarter. Finally, Main Management ETF Advisors LLC bought a new stake in Global-E Online in the 3rd quarter worth approximately $1,879,000. 94.60% of the stock is currently owned by hedge funds and other 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.