JMP Securities Raises Global-E Online (NASDAQ:GLBE) Price Target to $64.00

Global-E Online (NASDAQ:GLBE) had its price target raised by research analysts at JMP Securities from $46.00 to $64.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price target would indicate a potential upside of 33.72% from the company’s current price.

A number of other research firms have also recently commented on GLBE. Morgan Stanley cut Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective for the company. in a research report on Friday, October 18th. Needham & Company LLC restated a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a research report on Monday. Bank of America decreased their price objective on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Jefferies Financial Group lifted their price target on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday. Finally, KeyCorp lowered their price target on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Global-E Online has an average rating of “Moderate Buy” and an average target price of $47.64.

Global-E Online Stock Performance

GLBE opened at $47.86 on Thursday. The company has a fifty day moving average of $38.65 and a two-hundred day moving average of $35.02. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of -73.63 and a beta of 1.10. Global-E Online has a fifty-two week low of $28.11 and a fifty-two week high of $52.26.

Hedge Funds Weigh In On Global-E Online

Institutional investors have recently modified their holdings of the business. Dragoneer Investment Group LLC grew its holdings in shares of Global-E Online by 9.6% during the second 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 during the last quarter. Abdiel Capital Advisors LP increased its stake in Global-E Online by 1.4% in the 2nd quarter. Abdiel Capital Advisors LP now owns 6,776,495 shares of the company’s stock valued at $245,783,000 after buying an additional 95,741 shares during the period. Capital World Investors increased its stake in 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 buying an additional 1,877,953 shares during the period. Clearbridge Investments LLC acquired a new stake in shares of Global-E Online in the 2nd quarter worth $83,036,000. Finally, Brown Capital Management LLC acquired a new stake in shares of Global-E Online in the 1st quarter worth $69,352,000. 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.