Global-E Online (NASDAQ:GLBE) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Global-E Online (NASDAQ:GLBE) had its price target raised by analysts at The Goldman Sachs Group from $56.00 to $63.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 17.93% from the company’s previous close.

A number of other brokerages have also recently weighed in on GLBE. Needham & Company LLC reissued a “buy” rating and issued a $48.00 price target on shares of Global-E Online in a research note on Monday, November 18th. JMP Securities raised their target price on shares of Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a report on Thursday, November 21st. UBS Group cut 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 report on Friday, October 18th. Piper Sandler raised their price objective on shares of Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, KeyCorp boosted their target price on shares of Global-E Online from $38.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Global-E Online has a consensus rating of “Moderate Buy” and an average target price of $53.25.

Global-E Online Stock Up 1.2 %

GLBE opened at $53.42 on Friday. The business has a fifty day simple moving average of $50.50 and a 200-day simple moving average of $40.99. The firm has a market cap of $8.77 billion, a PE ratio of -92.10 and a beta of 1.22. Global-E Online has a fifty-two week low of $28.11 and a fifty-two week high of $57.85.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GLBE. Capital Performance Advisors LLP acquired a new stake in shares of Global-E Online during the 3rd quarter valued at about $32,000. Toronto Dominion Bank bought a new position in Global-E Online during the second quarter valued at approximately $40,000. Venturi Wealth Management LLC acquired a new stake in Global-E Online in the third quarter valued at approximately $87,000. Quarry LP grew its position in Global-E Online by 226.1% in the third quarter. Quarry LP now owns 2,286 shares of the company’s stock worth $88,000 after acquiring an additional 1,585 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new position in shares of Global-E Online during the 3rd quarter worth $223,000. Hedge funds and other 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.