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

Global-E Online Ltd. (NASDAQ:GLBE) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $58.90 and last traded at $56.99, with a volume of 121448 shares changing hands. The stock had previously closed at $57.16.

Analyst Upgrades and Downgrades

GLBE has been the subject of a number of analyst reports. JMP Securities lifted their price objective on shares of Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a report on Thursday, November 21st. KeyCorp lifted their price objective on shares of Global-E Online from $38.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Needham & Company LLC reissued a “buy” rating and set a $48.00 price target on shares of Global-E Online in a research report on Monday, November 18th. Morgan Stanley lowered shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price target on the stock. in a research report on Friday, October 18th. Finally, Wells Fargo & Company raised their price target on shares of Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.25.

Global-E Online Price Performance

The firm’s 50 day moving average is $52.68 and its 200 day moving average is $42.00. The company has a market cap of $9.35 billion, a PE ratio of -98.12, a PEG ratio of 5.77 and a beta of 1.22.

Hedge Funds Weigh In On Global-E Online

Institutional investors have recently made changes to their positions in the stock. Fred Alger Management LLC bought a new position in shares of Global-E Online in the 3rd quarter worth $53,493,000. JPMorgan Chase & Co. increased its holdings in shares of Global-E Online by 40.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after buying an additional 533,675 shares during the last quarter. Dragoneer Investment Group LLC increased its holdings in shares of Global-E Online by 9.6% in the 2nd quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock worth $534,403,000 after buying an additional 1,288,829 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Global-E Online by 23.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 51,950 shares of the company’s stock worth $1,997,000 after buying an additional 10,000 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Global-E Online by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 933,476 shares of the company’s stock worth $35,722,000 after buying an additional 30,995 shares during the last quarter. Institutional investors own 94.60% of the company’s stock.

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.