Global-E Online (NASDAQ:GLBE) Given Overweight Rating at Piper Sandler

Global-E Online (NASDAQ:GLBE)‘s stock had its “overweight” rating restated by investment analysts at Piper Sandler in a research report issued on Thursday,Benzinga reports. They currently have a $63.00 target price on the stock, up from their prior target price of $44.00. Piper Sandler’s price target indicates a potential upside of 31.63% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Bank of America reduced their target price on Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Needham & Company LLC reiterated a “buy” rating and set a $48.00 target price on shares of Global-E Online in a report on Monday. KeyCorp dropped their price target on shares of 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. UBS Group reduced their target price on Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, October 18th. Finally, Benchmark boosted their price objective on shares of Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.64.

Global-E Online Trading Up 12.0 %

Global-E Online stock opened at $47.86 on Thursday. Global-E Online has a 1-year low of $28.11 and a 1-year high of $52.26. The firm has a market cap of $7.86 billion, a P/E ratio of -73.63 and a beta of 1.10. The firm has a 50-day moving average of $38.65 and a 200-day moving average of $35.02.

Institutional Trading of Global-E Online

A number of hedge funds and other institutional investors have recently modified their holdings of GLBE. CIBC Asset Management Inc boosted its holdings in Global-E Online by 4.4% in the 3rd quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock worth $362,000 after buying an additional 393 shares during the period. American International Group Inc. lifted its position in shares of Global-E Online by 3.2% in the first quarter. American International Group Inc. now owns 15,619 shares of the company’s stock valued at $568,000 after acquiring an additional 484 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Global-E Online by 7.4% in the second quarter. Daiwa Securities Group Inc. now owns 7,300 shares of the company’s stock worth $265,000 after acquiring an additional 500 shares during the period. Van ECK Associates Corp grew its position in shares of Global-E Online by 1.6% during the third quarter. Van ECK Associates Corp now owns 32,828 shares of the company’s stock worth $1,235,000 after purchasing an additional 508 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in Global-E Online by 18.4% during 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. 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.