Global-E Online (NASDAQ:GLBE) Given “Buy” Rating at Needham & Company LLC

Global-E Online (NASDAQ:GLBE)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They currently have a $48.00 price target on the stock. Needham & Company LLC’s price target would suggest a potential upside of 19.11% from the stock’s previous close.

A number of other brokerages have also recently issued reports on GLBE. UBS Group dropped their target price on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Piper Sandler reaffirmed a “buy” rating on shares of Global-E Online in a report on Friday, October 18th. 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 report on Thursday, August 15th. Morgan Stanley cut Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price target for the company. in a report on Friday, October 18th. Finally, KeyCorp reduced their price objective on Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.30.

Global-E Online Price Performance

Global-E Online stock opened at $40.30 on Monday. The firm has a market capitalization of $6.62 billion, a P/E ratio of -62.00 and a beta of 1.10. The stock has a fifty day moving average price of $38.16 and a two-hundred day moving average price of $34.79. Global-E Online has a 52-week low of $28.11 and a 52-week high of $43.52.

Hedge Funds Weigh In On Global-E Online

Several large investors have recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of Global-E Online during the 3rd quarter worth approximately $32,000. Toronto Dominion Bank acquired a new stake in Global-E Online during the 2nd quarter worth $40,000. Venturi Wealth Management LLC bought a new stake in shares of Global-E Online during the 3rd quarter valued at $87,000. Quarry LP raised its position in shares of Global-E Online by 226.1% during the 3rd quarter. Quarry LP now owns 2,286 shares of the company’s stock valued at $88,000 after acquiring an additional 1,585 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Global-E Online by 18.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after purchasing an additional 624 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.