Global-E Online (NASDAQ:GLBE) Reaches New 1-Year High After Analyst Upgrade

Global-E Online Ltd. (NASDAQ:GLBE)’s stock price hit a new 52-week high during trading on Tuesday after KeyCorp raised their price target on the stock from $38.00 to $55.00. KeyCorp currently has an overweight rating on the stock. Global-E Online traded as high as $52.57 and last traded at $52.27, with a volume of 184932 shares trading hands. The stock had previously closed at $52.02.

GLBE has been the subject of a number of other reports. Jefferies Financial Group boosted their price target on shares of Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Raymond James upped their target price on Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 price target on shares of Global-E Online in a report on Monday, November 18th. Bank of America decreased their price objective on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, Piper Sandler reiterated an “overweight” rating and set a $63.00 target price (up from $44.00) on shares of Global-E Online in a research report on Thursday, November 21st. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.33.

Institutional Trading of Global-E Online

Several institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its stake in shares of Global-E Online by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 70,792 shares of the company’s stock valued at $2,721,000 after acquiring an additional 3,129 shares during the last quarter. Barclays PLC lifted its position in Global-E Online by 83.2% in the third quarter. Barclays PLC now owns 29,636 shares of the company’s stock valued at $1,139,000 after purchasing an additional 13,463 shares during the last quarter. Geode Capital Management LLC lifted its position in Global-E Online by 3.4% in the third quarter. Geode Capital Management LLC now owns 933,476 shares of the company’s stock valued at $35,722,000 after purchasing an additional 30,995 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Global-E Online during the third quarter valued at approximately $2,843,000. Finally, Pier Capital LLC grew its holdings in shares of Global-E Online by 15.2% in the third quarter. Pier Capital LLC now owns 141,660 shares of the company’s stock worth $5,445,000 after purchasing an additional 18,646 shares during the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Global-E Online Price Performance

The firm’s 50 day moving average is $39.47 and its 200 day moving average is $35.45. The company has a market capitalization of $8.49 billion, a PE ratio of -89.07 and a beta of 1.10.

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.