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 Morgan Stanley raised their price target on the stock from $52.00 to $55.00. Morgan Stanley currently has an equal weight rating on the stock. Global-E Online traded as high as $63.92 and last traded at $62.65, with a volume of 2921 shares trading hands. The stock had previously closed at $62.84.

A number of other research firms have also commented on GLBE. Needham & Company LLC restated a “buy” rating and set a $48.00 price target on shares of Global-E Online in a research report on Monday, November 18th. KeyCorp upped their target price on Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Benchmark lifted their price target on Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Piper Sandler boosted their price objective on Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Jefferies Financial Group raised their target price on shares of Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Global-E Online has a consensus rating of “Moderate Buy” and an average price target of $55.33.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GLBE. PharVision Advisers LLC bought a new position in shares of Global-E Online during the 4th quarter valued at $356,000. USS Investment Management Ltd purchased a new stake in Global-E Online during the fourth quarter valued at about $3,336,000. Voloridge Investment Management LLC bought a new position in shares of Global-E Online during the fourth quarter valued at about $14,319,000. Whitebark Investors LP purchased a new position in shares of Global-E Online in the fourth quarter worth about $17,023,000. Finally, Sphera Management Technology Funds Ltd bought a new stake in shares of Global-E Online in the 4th quarter valued at about $1,636,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-E Online Trading Down 1.5 %

The firm has a fifty day moving average of $56.99 and a two-hundred day moving average of $45.51. The company has a market capitalization of $10.17 billion, a PE ratio of -106.72, a PEG ratio of 6.16 and a beta of 1.23.

Global-E Online Company Profile

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.