Global-E Online Ltd. (NASDAQ:GLBE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Global-E Online Ltd. (NASDAQ:GLBE) have been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $53.25.

A number of analysts have weighed in on GLBE shares. UBS Group reduced their target price on 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. Raymond James raised their price target on shares of Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Jefferies Financial Group lifted their price objective on shares of Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 18th. Needham & Company LLC restated a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a research note on Monday, November 18th. Finally, The Goldman Sachs Group lifted their price target on shares of Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, January 10th.

Global-E Online Stock Performance

GLBE opened at $57.16 on Wednesday. Global-E Online has a one year low of $28.11 and a one year high of $57.85. The stock has a market cap of $9.39 billion, a price-to-earnings ratio of -98.55, a P/E/G ratio of 5.77 and a beta of 1.22. The stock’s 50 day moving average price is $52.68 and its 200-day moving average price is $42.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GLBE. Dragoneer Investment Group LLC grew its stake in Global-E Online by 9.6% in the second 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 last quarter. Abdiel Capital Advisors LP boosted its holdings in shares of Global-E Online by 1.4% in the 2nd quarter. Abdiel Capital Advisors LP now owns 6,776,495 shares of the company’s stock valued at $245,783,000 after buying an additional 95,741 shares in the last quarter. Clearbridge Investments LLC purchased a new position in shares of Global-E Online in the 2nd quarter worth approximately $83,036,000. JPMorgan Chase & Co. raised its stake in shares of Global-E Online by 40.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after acquiring an additional 533,675 shares in the last quarter. Finally, Eventide Asset Management LLC lifted its position in Global-E Online by 59.1% during the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock valued at $60,091,000 after acquiring an additional 580,450 shares during the last quarter. 94.60% of the stock is 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.