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

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

A number of other research firms also recently commented on GLBE. 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 report on Friday, October 18th. Piper Sandler restated a “buy” rating on shares of Global-E Online in a research note on Friday, October 18th. Morgan Stanley lowered 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 note on Friday, October 18th. KeyCorp cut their target price on Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Finally, Bank of America decreased their price target on Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.92.

Global-E Online Price Performance

Shares of GLBE stock opened at $49.89 on Monday. Global-E Online has a one year low of $28.11 and a one year high of $52.26. The stock has a fifty day moving average price of $38.90 and a 200 day moving average price of $35.12. The stock has a market cap of $8.19 billion, a P/E ratio of -76.75 and a beta of 1.10.

Institutional Investors Weigh In On Global-E Online

A number of hedge funds have recently added to or reduced their stakes in GLBE. Capital Performance Advisors LLP acquired a new position in Global-E Online during the 3rd quarter worth $32,000. Toronto Dominion Bank acquired a new stake in shares of Global-E Online in the 2nd quarter valued at $40,000. Venturi Wealth Management LLC bought a new stake in shares of Global-E Online during the third quarter worth $87,000. Quarry LP lifted its stake in shares of Global-E Online by 226.1% during the third quarter. Quarry LP now owns 2,286 shares of the company’s stock valued at $88,000 after acquiring an additional 1,585 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Global-E Online by 18.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after acquiring an additional 624 shares during the last quarter. Institutional investors own 94.60% of the company’s stock.

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.