Needham & Company LLC Reiterates Buy Rating for Global-E Online (NASDAQ:GLBE)

Global-E Online (NASDAQ:GLBE)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a report released on Monday,Benzinga reports. They presently have a $48.00 price target on the stock. Needham & Company LLC’s price objective suggests a potential upside of 12.31% from the stock’s previous close.

GLBE has been the subject of several other reports. Morgan Stanley cut shares of 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. Bank of America dropped their target price on shares of 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. UBS Group dropped their target price 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. KeyCorp decreased 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 report on Thursday, August 15th. Finally, Piper Sandler reaffirmed a “buy” rating on shares of Global-E Online in a report on Friday, October 18th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.27.

Global-E Online Trading Up 4.7 %

Shares of NASDAQ:GLBE opened at $42.74 on Monday. The firm has a 50 day moving average of $38.42 and a 200-day moving average of $34.93. The stock has a market capitalization of $7.02 billion, a PE ratio of -65.75 and a beta of 1.10. Global-E Online has a 12 month low of $28.11 and a 12 month high of $43.52.

Institutional Investors Weigh In On Global-E Online

A number of institutional investors have recently added to or reduced their stakes in the business. CIBC Asset Management Inc grew its holdings in Global-E Online by 4.4% during the 3rd quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock worth $362,000 after acquiring an additional 393 shares during the last quarter. American International Group Inc. grew its holdings in Global-E Online by 3.2% during the 1st quarter. American International Group Inc. now owns 15,619 shares of the company’s stock worth $568,000 after acquiring an additional 484 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Global-E Online by 7.4% during the 2nd 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 last quarter. Van ECK Associates Corp grew its holdings in Global-E Online by 1.6% during the 3rd quarter. Van ECK Associates Corp now owns 32,828 shares of the company’s stock worth $1,235,000 after acquiring an additional 508 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in Global-E Online by 18.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after acquiring an additional 624 shares during the last quarter. 94.60% of the stock is owned by 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.