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

Global-E Online Ltd. (NASDAQ:GLBE) shares reached a new 52-week high on Wednesday . The stock traded as high as $43.17 and last traded at $42.76, with a volume of 146220 shares traded. The stock had previously closed at $42.53.

Analyst Upgrades and Downgrades

GLBE has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a report on Thursday, August 15th. KeyCorp decreased their price objective on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Morgan Stanley lowered shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective on the stock. in a report on Friday, October 18th. Piper Sandler reissued a “buy” rating on shares of Global-E Online in a report on Friday, October 18th. Finally, UBS Group decreased their price objective on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, October 18th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Global-E Online has a consensus rating of “Moderate Buy” and a consensus target price of $43.09.

Global-E Online Trading Down 2.9 %

The company has a market cap of $6.74 billion, a P/E ratio of -63.11 and a beta of 1.10. The firm’s 50 day moving average price is $38.00 and its 200-day moving average price is $34.72.

Global-E Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.03. The company had revenue of $168.00 million for the quarter, compared to analyst estimates of $165.95 million. Global-E Online had a negative net margin of 17.33% and a negative return on equity of 16.41%. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.22) EPS. Analysts predict that Global-E Online Ltd. will post -0.5 earnings per share for the current fiscal year.

Institutional Trading of Global-E Online

A number of hedge funds have recently modified their holdings of GLBE. Capital Performance Advisors LLP acquired a new stake in shares of Global-E Online in the 3rd quarter valued at approximately $32,000. Toronto Dominion Bank acquired a new stake in shares of Global-E Online in the 2nd quarter valued at approximately $40,000. Venturi Wealth Management LLC acquired a new stake in shares of Global-E Online in the 3rd quarter valued at approximately $87,000. DekaBank Deutsche Girozentrale raised its position in shares of Global-E Online by 18.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after acquiring an additional 624 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Global-E Online by 15.2% in the 1st quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock valued at $215,000 after acquiring an additional 780 shares during the period. 94.60% of the stock is currently 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.