Global-E Online (NASDAQ:GLBE) Sets New 12-Month High Following Analyst Upgrade

Global-E Online Ltd. (NASDAQ:GLBE)’s stock price hit a new 52-week high during mid-day 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 changing hands. The stock had previously closed at $52.02.

Several other research firms have also recently issued reports on GLBE. UBS Group reduced their target price on Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Wells Fargo & Company boosted their price objective 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. Bank of America dropped their target price on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Piper Sandler reiterated an “overweight” rating and set a $63.00 price target (up previously from $44.00) on shares of Global-E Online in a research report on Thursday, November 21st. Finally, JMP Securities increased their price target on shares of Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.33.

Institutional Trading of Global-E Online

A number of hedge funds have recently made changes to their positions in GLBE. CIBC Asset Management Inc increased its position in shares of Global-E Online by 4.4% during the third quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock valued at $362,000 after acquiring an additional 393 shares in the last quarter. American International Group Inc. raised its position in Global-E Online by 3.2% in the 1st quarter. American International Group Inc. now owns 15,619 shares of the company’s stock worth $568,000 after buying an additional 484 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Global-E Online by 7.4% during the second quarter. Daiwa Securities Group Inc. now owns 7,300 shares of the company’s stock valued at $265,000 after purchasing an additional 500 shares during the period. Van ECK Associates Corp boosted its holdings in Global-E Online by 1.6% in the third quarter. Van ECK Associates Corp now owns 32,828 shares of the company’s stock worth $1,235,000 after purchasing an additional 508 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in Global-E Online by 18.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after buying an additional 624 shares during the last quarter. 94.60% of the stock is owned by institutional investors.

Global-E Online Stock Performance

The stock has a market capitalization of $8.49 billion, a P/E ratio of -89.07 and a beta of 1.10. The firm has a fifty day moving average price of $39.47 and a two-hundred day moving average price of $35.45.

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.