Wells Fargo & Company Issues Positive Forecast for Global-E Online (NASDAQ:GLBE) Stock Price

Global-E Online (NASDAQ:GLBE) had its price target boosted by Wells Fargo & Company from $45.00 to $60.00 in a research report report published on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also recently commented 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 target price on the stock. in a research report on Friday, October 18th. Benchmark lifted their price objective on Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 18th. JMP Securities increased their target price on Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a report on Thursday. Bank of America decreased their price target 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. Finally, UBS Group dropped 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 eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Global-E Online currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.92.

Global-E Online Stock Performance

GLBE stock opened at $49.89 on Thursday. The company has a market capitalization of $8.19 billion, a PE ratio of -86.02 and a beta of 1.10. Global-E Online has a one year low of $28.11 and a one year high of $52.26. The company’s 50 day moving average price is $39.16 and its two-hundred day moving average price is $35.29.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GLBE. Clearbridge Investments LLC purchased a new position in shares of Global-E Online during the second quarter valued at about $83,036,000. Brown Capital Management LLC bought a new stake in Global-E Online during the 1st quarter valued at approximately $69,352,000. Capital World Investors grew its holdings in shares of Global-E Online by 60.5% during the 1st 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 period. Fred Alger Management LLC bought a new position in shares of Global-E Online in the 3rd quarter worth approximately $53,493,000. Finally, Dragoneer Investment Group LLC lifted its stake in shares of Global-E Online by 9.6% in the 2nd 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 period. 94.60% of the stock is currently owned by institutional investors.

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.