The Goldman Sachs Group Forecasts Strong Price Appreciation for Global-E Online (NASDAQ:GLBE) Stock

Global-E Online (NASDAQ:GLBE) had its target price lifted by The Goldman Sachs Group from $56.00 to $63.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 19.30% from the stock’s current price.

A number of other research firms also recently issued reports on GLBE. Jefferies Financial Group lifted their price target 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. UBS Group reduced their price target on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Needham & Company LLC reiterated a “buy” rating and set a $48.00 price target on shares of Global-E Online in a research report on Monday, November 18th. Wells Fargo & Company lifted their price target on shares of Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, JMP Securities lifted their price target on shares of Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.25.

Global-E Online Stock Performance

NASDAQ:GLBE traded up $0.03 during mid-day trading on Friday, reaching $52.81. The stock had a trading volume of 777,027 shares, compared to its average volume of 980,858. The firm has a market capitalization of $8.67 billion, a price-to-earnings ratio of -91.05 and a beta of 1.22. Global-E Online has a twelve month low of $28.11 and a twelve month high of $57.85. The business has a 50 day simple moving average of $50.20 and a 200 day simple moving average of $40.78.

Institutional Trading of Global-E Online

Several hedge funds and other institutional investors have recently bought and sold shares of GLBE. Capital Performance Advisors LLP purchased a new stake in Global-E Online in the 3rd quarter worth approximately $32,000. Toronto Dominion Bank purchased a new stake in shares of Global-E Online during the 2nd quarter valued at $40,000. Venturi Wealth Management LLC purchased a new stake in shares of Global-E Online during the 3rd quarter valued at $87,000. Quarry LP grew its stake in shares of Global-E Online by 226.1% during the 3rd quarter. Quarry LP now owns 2,286 shares of the company’s stock valued at $88,000 after buying an additional 1,585 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of Global-E Online during the 2nd quarter valued at $220,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

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.