Jefferies Financial Group Forecasts Strong Price Appreciation for Global-E Online (NASDAQ:GLBE) Stock

Global-E Online (NASDAQ:GLBE) had its target price boosted by investment analysts at Jefferies Financial Group from $45.00 to $50.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price target points to a potential upside of 16.99% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. 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 dropped their target price 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. UBS Group dropped their target price 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a report on Monday. Finally, Benchmark increased their target price on shares of Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.27.

Global-E Online Stock Up 4.7 %

NASDAQ GLBE opened at $42.74 on Monday. The stock has a market capitalization of $7.02 billion, a P/E ratio of -65.75 and a beta of 1.10. Global-E Online has a 52-week low of $28.11 and a 52-week high of $43.52. The firm has a 50-day moving average price of $38.42 and a 200 day moving average price of $34.93.

Institutional Trading of Global-E Online

Several large investors have recently modified their holdings of the business. Dragoneer Investment Group LLC grew its position 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 valued at $534,403,000 after purchasing an additional 1,288,829 shares during the last quarter. Abdiel Capital Advisors LP boosted its position in Global-E Online by 1.4% during the second quarter. Abdiel Capital Advisors LP now owns 6,776,495 shares of the company’s stock worth $245,783,000 after acquiring an additional 95,741 shares during the last quarter. Capital World Investors boosted its position in Global-E Online by 60.5% during the first quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock worth $181,150,000 after acquiring an additional 1,877,953 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in Global-E Online during the second quarter worth approximately $83,036,000. Finally, Brown Capital Management LLC acquired a new position in shares of Global-E Online in the 1st quarter valued at $69,352,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

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.