Global-E Online Ltd. (NASDAQ:GLBE) Given Consensus Rating of “Moderate Buy” by Analysts

Global-E Online Ltd. (NASDAQ:GLBE) has earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $51.33.

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley cut shares of 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 note on Friday, October 18th. Jefferies Financial Group upped their price target on shares of Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. KeyCorp boosted their target price on Global-E Online from $38.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. UBS Group reduced their price target on Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Finally, Benchmark boosted their price objective on Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 18th.

Global-E Online Price Performance

Shares of GLBE opened at $55.01 on Friday. Global-E Online has a 1 year low of $28.11 and a 1 year high of $57.85. The stock has a 50 day simple moving average of $47.44 and a two-hundred day simple moving average of $39.38. The firm has a market cap of $9.04 billion, a P/E ratio of -94.84 and a beta of 1.24.

Institutional Trading of Global-E Online

Several large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in shares of Global-E Online by 166.9% in the 2nd quarter. Principal Financial Group Inc. now owns 18,365 shares of the company’s stock worth $666,000 after purchasing an additional 11,484 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Global-E Online by 32.8% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,649 shares of the company’s stock worth $277,000 after buying an additional 1,888 shares during the period. Van ECK Associates Corp boosted its position in Global-E Online by 7.2% during the 2nd quarter. Van ECK Associates Corp now owns 32,320 shares of the company’s stock valued at $1,172,000 after acquiring an additional 2,161 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Global-E Online by 6.5% during the 2nd quarter. CIBC Asset Management Inc now owns 9,027 shares of the company’s stock worth $327,000 after acquiring an additional 547 shares during the period. Finally, Wealth Effects LLC raised its position in shares of Global-E Online by 78.5% in the 2nd quarter. Wealth Effects LLC now owns 14,550 shares of the company’s stock worth $528,000 after acquiring an additional 6,400 shares in 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.