Global-e Online (NASDAQ:GLBE) Price Target Cut to $30.00 by Analysts at KeyCorp

Global-e Online (NASDAQ:GLBEGet Rating) had its target price reduced by KeyCorp from $40.00 to $30.00 in a research report report published on Thursday morning, The Fly reports. KeyCorp currently has an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group reduced their price target on shares of Global-e Online from $42.00 to $32.00 and set a buy rating for the company in a research report on Thursday. Piper Sandler reduced their price target on shares of Global-e Online from $30.00 to $27.00 and set an overweight rating for the company in a research report on Thursday. The Goldman Sachs Group lifted their target price on shares of Global-e Online from $31.00 to $40.00 and gave the stock a buy rating in a research report on Wednesday, August 17th. Raymond James lifted their target price on shares of Global-e Online from $25.00 to $40.00 and gave the stock an outperform rating in a research report on Wednesday, August 17th. Finally, Bank of America lifted their target price on shares of Global-e Online from $30.00 to $40.00 and gave the stock a buy rating in a research report on Wednesday, August 17th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Global-e Online presently has an average rating of Buy and an average target price of $36.67.

Global-e Online Stock Down 1.5 %

Shares of GLBE opened at $20.42 on Thursday. The company has a market capitalization of $3.18 billion, a P/E ratio of -16.74 and a beta of 1.07. The firm has a 50 day moving average of $26.04 and a 200 day moving average of $24.85. Global-e Online has a twelve month low of $15.63 and a twelve month high of $69.83.

Institutional Investors Weigh In On Global-e Online

A number of hedge funds have recently modified their holdings of GLBE. Eventide Asset Management LLC lifted its stake in shares of Global-e Online by 16.6% during the 1st quarter. Eventide Asset Management LLC now owns 2,495,391 shares of the company’s stock valued at $84,294,000 after buying an additional 355,505 shares in the last quarter. TimesSquare Capital Management LLC lifted its stake in shares of Global-e Online by 29.2% during the 2nd quarter. TimesSquare Capital Management LLC now owns 903,040 shares of the company’s stock valued at $18,214,000 after buying an additional 203,900 shares in the last quarter. Dragoneer Investment Group LLC lifted its stake in Global-e Online by 81.7% in the 1st quarter. Dragoneer Investment Group LLC now owns 2,243,489 shares of the company’s stock worth $75,785,000 after purchasing an additional 1,008,637 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in Global-e Online in the 1st quarter worth $3,775,000. Finally, Zevenbergen Capital Investments LLC increased its holdings in shares of Global-e Online by 2.6% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 1,510,302 shares of the company’s stock worth $51,018,000 after buying an additional 37,889 shares during the last quarter. Institutional investors own 68.15% of the company’s stock.

About Global-e Online

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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.

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