Global-E Online (NASDAQ:GLBE) Reaches New 52-Week High – Here’s Why

Global-E Online Ltd. (NASDAQ:GLBE)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $56.80 and last traded at $56.80, with a volume of 2495 shares changing hands. The stock had previously closed at $56.46.

Wall Street Analyst Weigh In

GLBE has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and set a $48.00 target price on shares of Global-E Online in a research report on Monday, November 18th. Jefferies Financial Group increased their target price on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Wells Fargo & Company increased their target price on Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Morgan Stanley downgraded Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 target price on the stock. in a research report on Friday, October 18th. Finally, Benchmark increased their target price on Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.33.

Global-E Online Stock Down 0.4 %

The company has a market cap of $9.33 billion, a PE ratio of -97.97 and a beta of 1.24. The stock has a 50-day moving average of $44.71 and a 200-day moving average of $38.13.

Institutional Investors Weigh In On Global-E Online

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