Wells Fargo & Company Increases Global-E Online (NASDAQ:GLBE) Price Target to $60.00

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

A number of other equities research analysts also recently issued reports on GLBE. KeyCorp reduced their price target on Global-E Online from $40.00 to $38.00 and set an “overweight” 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 on the stock. in a research report on Friday, October 18th. JMP Securities boosted their price target on Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a research note on Thursday. Benchmark raised their target price on shares of Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 18th. Finally, Jefferies Financial Group boosted their target price on shares of Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.92.

Global-E Online Price Performance

Shares of Global-E Online stock opened at $49.89 on Thursday. The company has a 50-day simple moving average of $39.16 and a two-hundred day simple moving average of $35.26. Global-E Online has a twelve month low of $28.11 and a twelve month high of $52.26. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of -86.02 and a beta of 1.10.

Institutional Trading of Global-E Online

A number of hedge funds have recently added to or reduced their stakes in GLBE. Clearbridge Investments LLC acquired a new position in shares of Global-E Online during the second quarter worth $83,036,000. Brown Capital Management LLC bought a new stake in Global-E Online during the 1st quarter worth $69,352,000. Capital World Investors increased its holdings in Global-E Online by 60.5% in the 1st quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock worth $181,150,000 after purchasing an additional 1,877,953 shares in the last quarter. Fred Alger Management LLC bought a new position in Global-E Online in the third quarter valued at about $53,493,000. Finally, Dragoneer Investment Group LLC boosted its stake in shares of Global-E Online by 9.6% during 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 in the last quarter. 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.