Benchmark Forecasts Strong Price Appreciation for Global-E Online (NASDAQ:GLBE) Stock

Global-E Online (NASDAQ:GLBE) had its price objective upped by analysts at Benchmark from $41.00 to $45.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s target price points to a potential upside of 5.29% from the company’s previous close.

GLBE has been the subject of a number of other research reports. Piper Sandler reissued a “buy” rating on shares of Global-E Online in a report on Friday, October 18th. KeyCorp dropped their price target on 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. Bank of America lowered their target price 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. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price target on shares of Global-E Online in a research note on Monday. Finally, UBS Group reduced their price objective on 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. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Global-E Online has an average rating of “Moderate Buy” and an average target price of $44.27.

Global-E Online Price Performance

Shares of NASDAQ:GLBE opened at $42.74 on Monday. The firm has a market capitalization of $7.02 billion, a PE ratio of -65.75 and a beta of 1.10. The business has a 50-day moving average of $38.42 and a two-hundred day moving average of $34.93. Global-E Online has a 12 month low of $28.11 and a 12 month high of $43.52.

Hedge Funds Weigh In On Global-E Online

Several hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in Global-E Online in the 3rd quarter valued at about $32,000. Toronto Dominion Bank bought a new position in Global-E Online in the second quarter valued at approximately $40,000. Venturi Wealth Management LLC bought a new position in Global-E Online in the third quarter valued at approximately $87,000. Quarry LP grew 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 worth $88,000 after buying an additional 1,585 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Global-E Online by 18.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after buying 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.