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

Global-E Online (NASDAQ:GLBE) had its target price raised by KeyCorp from $38.00 to $55.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 target price on shares of Global-E Online in a research note on Monday, November 18th. Piper Sandler reiterated an “overweight” rating and set a $63.00 price objective (up previously from $44.00) on shares of Global-E Online in a research note on Thursday, November 21st. Bank of America cut their target price 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. Wells Fargo & Company raised their price target on Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, UBS Group dropped their price target on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Global-E Online currently has an average rating of “Moderate Buy” and an average price target of $51.33.

Global-E Online Price Performance

Shares of Global-E Online stock opened at $52.28 on Tuesday. Global-E Online has a 1 year low of $28.11 and a 1 year high of $52.75. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of -90.14 and a beta of 1.10. The company has a 50-day moving average of $40.31 and a 200 day moving average of $35.83.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GLBE. Clearbridge Investments LLC bought a new stake in shares of Global-E Online during the 2nd quarter valued at about $83,036,000. Fred Alger Management LLC bought a new stake in Global-E Online during the third quarter valued at approximately $53,493,000. Dragoneer Investment Group LLC increased its holdings in 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 valued at $534,403,000 after buying an additional 1,288,829 shares during the last quarter. Hood River Capital Management LLC bought a new position in Global-E Online in the second quarter worth approximately $36,182,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Global-E Online by 369.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 847,094 shares of the company’s stock worth $30,724,000 after acquiring an additional 666,491 shares during the last quarter. 94.60% of the stock is 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.