Benchmark Issues Positive Forecast for Global-E Online (NASDAQ:GLBE) Stock Price

Global-E Online (NASDAQ:GLBE) had its price target lifted by Benchmark from $41.00 to $45.00 in a research report report published on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on the stock. Bank of America dropped their target price on shares of 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. KeyCorp cut their price objective on shares of 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. Piper Sandler reaffirmed a “buy” rating on shares of Global-E Online in a research report on Friday, October 18th. UBS Group cut their price target on Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Finally, Morgan Stanley downgraded Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective for the company. in a report on Friday, October 18th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $49.92.

Global-E Online Stock Performance

Shares of GLBE stock opened at $49.89 on Monday. Global-E Online has a fifty-two week low of $28.11 and a fifty-two week high of $52.26. The stock has a 50 day simple moving average of $38.90 and a two-hundred day simple moving average of $35.12. The company has a market cap of $8.19 billion, a P/E ratio of -76.75 and a beta of 1.10.

Hedge Funds Weigh In On Global-E Online

A number of hedge funds have recently bought and sold shares of GLBE. Tidal Investments LLC purchased a new stake in shares of Global-E Online during the first quarter valued at approximately $2,521,000. Capital International Investors raised its stake in shares of Global-E Online by 51.2% in the first quarter. Capital International Investors now owns 1,003,229 shares of the company’s stock valued at $36,467,000 after buying an additional 339,591 shares during the period. Dragoneer Investment Group LLC lifted its position in shares of 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 valued at $534,403,000 after buying an additional 1,288,829 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of Global-E Online during the 2nd quarter worth $623,000. Finally, Clearbridge Investments LLC purchased a new stake in Global-E Online in the 2nd quarter worth about $83,036,000. 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.