Tech Sell-Off: 1 Beaten-Down Growth Stock That Could Soar 210%, According to Wall Street
It is important that long-term investors give little thought to short-term analyst price targets because predicting where a stock is going to move in just one year is similar to flipping a coin. However, Goldman Sachs analyst Will Nance has an aggressive price target on Global-E Online (NASDAQ: GLBE) of $89, implying 210% upside from today's price of $28.70. When an analyst estimates that a stock is going to grow this much, it might be smart to pay attention to the company in question.
Unlike many initial public offerings (IPOs) that came public last year, Global-E's shares are currently above their IPO price. They are, however, down almost 65% from their all-time highs set in September 2021. It is unclear how the stock market or Global-E's stock will perform in the short term, but this optimism warrants a look at the company to see if it can be a winner over the longer term.
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Source Fool.com