Global-E Online (NASDAQ:GLBE) Hits New 1-Year High – Time to Buy?

Shares of Global-E Online Ltd. (NASDAQ:GLBE) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $52.75 and last traded at $52.53, with a volume of 98510 shares. The stock had previously closed at $52.28.

Wall Street Analyst Weigh In

GLBE has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their target price on Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 18th. UBS Group lowered their target price on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, October 18th. Bank of America lowered their price objective on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. KeyCorp lifted their target price on Global-E Online from $38.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, Needham & Company LLC restated a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a report on Monday, November 18th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.33.

Global-E Online Price Performance

The company has a fifty day moving average of $40.60 and a two-hundred day moving average of $36.08. The stock has a market capitalization of $8.58 billion, a P/E ratio of -89.79 and a beta of 1.10.

Institutional Investors Weigh In On Global-E Online

Several institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. acquired a new stake in shares of Global-E Online during the third quarter worth $223,000. Tidal Investments LLC raised its stake in Global-E Online by 4.6% during the third quarter. Tidal Investments LLC now owns 70,792 shares of the company’s stock worth $2,721,000 after acquiring an additional 3,129 shares during the period. Barclays PLC lifted its holdings in Global-E Online by 83.2% in the third quarter. Barclays PLC now owns 29,636 shares of the company’s stock worth $1,139,000 after acquiring an additional 13,463 shares during the last quarter. Geode Capital Management LLC lifted its holdings 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 worth $35,722,000 after acquiring an additional 30,995 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Global-E Online in the third quarter valued at approximately $2,843,000. 94.60% of the stock is owned by institutional investors and hedge funds.

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.