Piper Sandler Reiterates “Overweight” Rating for Global-E Online (NASDAQ:GLBE)

Piper Sandler reiterated their overweight rating on shares of Global-E Online (NASDAQ:GLBE) in a research note published on Thursday morning,Benzinga reports. They currently have a $63.00 price objective on the stock, up from their prior price objective of $44.00.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group boosted their price objective on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. JMP Securities upped their price target on Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a report on Thursday. Bank of America dropped 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 research note on Thursday, August 15th. Benchmark upped their target price on shares of Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 18th. 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 analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Global-E Online presently has a consensus rating of “Moderate Buy” and an average price target of $49.92.

Global-E Online Stock Performance

GLBE opened at $49.89 on Thursday. Global-E Online has a 1 year low of $28.11 and a 1 year high of $52.26. The firm has a 50 day moving average price of $39.16 and a 200 day moving average price of $35.29. The company has a market cap of $8.19 billion, a PE ratio of -86.02 and a beta of 1.10.

Institutional Investors Weigh In On Global-E Online

A number of institutional investors have recently modified their holdings of the stock. Clearbridge Investments LLC acquired a new position in shares of Global-E Online in the 2nd quarter worth approximately $83,036,000. Brown Capital Management LLC bought a new position in Global-E Online during the first quarter worth $69,352,000. Capital World Investors boosted its holdings in Global-E Online by 60.5% in the first quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock worth $181,150,000 after purchasing an additional 1,877,953 shares during the period. Fred Alger Management LLC bought a new stake in Global-E Online during the third quarter valued at $53,493,000. Finally, Dragoneer Investment Group LLC raised 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 purchasing an additional 1,288,829 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.

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.