The Goldman Sachs Group Issues Positive Forecast for Global-E Online (NASDAQ:GLBE) Stock Price

Global-E Online (NASDAQ:GLBE) had its price target hoisted by The Goldman Sachs Group from $56.00 to $63.00 in a research report released on Friday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other research firms also recently commented on GLBE. KeyCorp raised 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 report on Tuesday, November 26th. Wells Fargo & Company lifted their price objective on shares of Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Morgan Stanley lowered Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 target price for the company. in a report on Friday, October 18th. JMP Securities lifted their price target on Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a report on Thursday, November 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a research note on Monday, November 18th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Global-E Online currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.25.

Global-E Online Trading Up 1.2 %

GLBE opened at $53.42 on Friday. The company has a market capitalization of $8.77 billion, a price-to-earnings ratio of -92.10 and a beta of 1.22. Global-E Online has a 12-month low of $28.11 and a 12-month high of $57.85. The business’s fifty day simple moving average is $50.50 and its 200-day simple moving average is $40.93.

Hedge Funds Weigh In On Global-E Online

Several hedge funds and other institutional investors have recently modified their holdings of GLBE. Dragoneer Investment Group LLC grew its position in Global-E Online by 9.6% during the 2nd quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock worth $534,403,000 after purchasing an additional 1,288,829 shares during the last quarter. Abdiel Capital Advisors LP grew its holdings in shares of Global-E Online by 1.4% during the second 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 during the last quarter. Clearbridge Investments LLC acquired a new position in shares of Global-E Online in the 2nd quarter valued at $83,036,000. JPMorgan Chase & Co. raised its stake in Global-E Online by 40.7% in 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 during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in Global-E Online by 30.0% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,490 shares of the company’s stock worth $59,464,000 after acquiring an additional 378,827 shares during the period. 94.60% of the stock is owned by hedge funds and other 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.