5 Best IPO Stocks to Invest In Right Now

3. Global-e Online Ltd. (NASDAQ:GLBE)

Number of Hedge Fund Holders: 17

Global-e Online Ltd. (NASDAQ:GLBE) is an Israeli company that operates a platform to facilitate companies to directly ship and sell their products to consumers in different countries. It offers its services in Israel, the United States, and the United Kingdom and is headquartered in Petah Tikva, Israel.

True to the notion of a high growth company, Global-e Online Ltd. (NASDAQ:GLBE) is on a strong growth trajectory, after growing its revenues by a staggering 80% in 2021 and projecting 60% growth this year. Consensus estimates believe that the growth story isn’t over yet, with growth rates of 45% and 50% for 2023 and 2024 expected. The firm listed its shares on the stock market in May last year and since then the stock has grown by 14%.

17 out of the 895 hedge fund portfolios profiled by Insider Monkey for this year’s June quarter had held a stake in Global-e Online Ltd. (NASDAQ:GLBE). BofA raised the company’s share price target to $40 from $30 in August 2022, sharing that the firm is one of the best of its kind and its Q2 2022 results were impressive.

Colin Moran’s Abdiel Capital Advisors is Global-e Online Ltd. (NASDAQ:GLBE)’s largest investor. It owns 14 million shares worth $298 million.