Jefferies Financial Group Issues Positive Forecast for Global-E Online (NASDAQ:GLBE) Stock Price

Global-E Online (NASDAQ:GLBE) had its target price lifted by Jefferies Financial Group from $45.00 to $50.00 in a report published on Monday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

A number of other analysts also recently issued reports on the company. Bank of America dropped their price target on Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Benchmark boosted their target price on Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday. Needham & Company LLC restated a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a research report on Monday. Morgan Stanley downgraded Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 target price for the company. in a research report on Friday, October 18th. Finally, KeyCorp dropped their target price on Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.27.

Global-E Online Trading Up 12.0 %

Shares of GLBE opened at $47.86 on Monday. The company has a market cap of $7.86 billion, a PE ratio of -73.63 and a beta of 1.10. The stock has a 50-day moving average price of $38.65 and a 200-day moving average price of $35.02. Global-E Online has a 12-month low of $28.11 and a 12-month high of $52.26.

Institutional Trading of Global-E Online

Several hedge funds and other institutional investors have recently bought and sold shares of GLBE. Clearbridge Investments LLC purchased a new position in shares of Global-E Online during the second quarter valued at approximately $83,036,000. Brown Capital Management LLC purchased a new position in shares of Global-E Online during the first quarter valued at approximately $69,352,000. Capital World Investors increased its stake in shares of Global-E Online by 60.5% during the first quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock valued at $181,150,000 after buying an additional 1,877,953 shares during the period. Fred Alger Management LLC purchased a new position in shares of Global-E Online during the third quarter valued at approximately $53,493,000. Finally, Dragoneer Investment Group LLC increased 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 buying an additional 1,288,829 shares during the period. Institutional investors own 94.60% of the company’s stock.

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.