Needham & Company LLC Raises Global-E Online (NASDAQ:GLBE) Price Target to $64.00

Global-E Online (NASDAQ:GLBE) had its target price lifted by equities researchers at Needham & Company LLC from $55.00 to $64.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 23.68% from the company’s previous close.

GLBE has been the subject of a number of other research reports. The Goldman Sachs Group lifted their price objective on Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Morgan Stanley lifted their target price on Global-E Online from $52.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday. Wells Fargo & Company lifted their price objective on Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. JMP Securities lifted their price objective on Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a report on Thursday, November 21st. Finally, Piper Sandler boosted their price objective on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.67.

Global-E Online Trading Down 16.4 %

NASDAQ GLBE traded down $10.16 on Wednesday, hitting $51.75. The company’s stock had a trading volume of 2,203,722 shares, compared to its average volume of 1,344,555. The firm has a market cap of $8.50 billion, a P/E ratio of -88.78, a PEG ratio of 6.47 and a beta of 1.23. The company’s 50-day simple moving average is $56.99 and its 200 day simple moving average is $45.51. Global-E Online has a 52-week low of $28.11 and a 52-week high of $63.69.

Institutional Trading of Global-E Online

Several hedge funds and other institutional investors have recently made changes to their positions in GLBE. Values First Advisors Inc. increased its position in shares of Global-E Online by 49.2% in the 3rd quarter. Values First Advisors Inc. now owns 13,070 shares of the company’s stock valued at $502,000 after acquiring an additional 4,309 shares during the period. Mount Yale Investment Advisors LLC acquired a new position in shares of Global-E Online in the 3rd quarter valued at $323,000. Mediolanum International Funds Ltd acquired a new position in shares of Global-E Online in the 3rd quarter valued at $315,000. Focus Financial Network Inc. increased its position in shares of Global-E Online by 11.2% in the 3rd quarter. Focus Financial Network Inc. now owns 6,899 shares of the company’s stock valued at $265,000 after acquiring an additional 694 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Global-E Online in the 3rd quarter valued at $362,000. Hedge funds and other institutional investors 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.