The Goldman Sachs Group Trims Global-e Online (NASDAQ:GLBE) Target Price to $33.00

Global-e Online (NASDAQ:GLBEGet Rating) had its price target lowered by The Goldman Sachs Group from $38.00 to $33.00 in a report published on Thursday, Marketbeat reports. The firm currently has a buy rating on the stock.

Several other brokerages have also issued reports on GLBE. Needham & Company LLC boosted their target price on Global-e Online from $25.00 to $44.00 and gave the company a buy rating in a research note on Wednesday, August 17th. KeyCorp lowered their target price on shares of Global-e Online from $40.00 to $30.00 and set an overweight rating on the stock in a research note on Thursday. Morgan Stanley boosted their price objective on Global-e Online from $34.00 to $51.00 and gave the stock an overweight rating in a report on Wednesday, August 17th. Jefferies Financial Group lowered their price target on Global-e Online from $42.00 to $32.00 and set a buy rating on the stock in a research report on Thursday. Finally, Bank of America upped their price objective on shares of Global-e Online from $30.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, August 17th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $36.67.

Global-e Online Stock Down 1.5 %

Global-e Online stock 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 price of $26.04 and a 200-day moving average price of $24.85. Global-e Online has a twelve month low of $15.63 and a twelve month high of $69.83.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GLBE. Abdiel Capital Advisors LP increased its position in Global-e Online by 2.0% during the 3rd quarter. Abdiel Capital Advisors LP now owns 15,119,399 shares of the company’s stock valued at $404,595,000 after purchasing an additional 302,488 shares during the period. Dragoneer Investment Group LLC raised its stake in Global-e Online by 45.1% in the third quarter. Dragoneer Investment Group LLC now owns 8,962,409 shares of the company’s stock worth $239,834,000 after buying an additional 2,783,926 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Global-e Online by 1,236.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 6,969,582 shares of the company’s stock valued at $140,576,000 after acquiring an additional 6,448,167 shares in the last quarter. Viking Global Investors LP grew its holdings in shares of Global-e Online by 1.8% during the 1st quarter. Viking Global Investors LP now owns 5,128,448 shares of the company’s stock worth $173,239,000 after acquiring an additional 89,557 shares during the period. Finally, Artisan Partners Limited Partnership raised its position in shares of Global-e Online by 8.2% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,837,968 shares of the company’s stock worth $129,464,000 after acquiring an additional 367,234 shares in the last quarter. Hedge funds and other institutional investors own 68.15% of the company’s stock.

Global-e Online Company Profile

(Get Rating)

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.

Recommended Stories

Analyst Recommendations for Global-e Online (NASDAQ:GLBE)

Receive News & Ratings for Global-e Online Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global-e Online and related companies with MarketBeat.com's FREE daily email newsletter.