Global-E Online (NASDAQ:GLBE) Sets New 12-Month High – Here’s Why

Global-E Online Ltd. (NASDAQ:GLBE) reached a new 52-week high during 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 Ratings Changes

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

Global-E Online Trading Down 0.8 %

The company’s fifty day moving average is $53.28 and its 200 day moving average is $42.20.

Hedge Funds Weigh In On Global-E Online

Large investors have recently modified their holdings of the business. Clearbridge Investments LLC bought a new stake in Global-E Online during the second quarter worth about $83,036,000. Fred Alger Management LLC bought a new position in shares of Global-E Online in the third quarter valued at $53,493,000. Dragoneer Investment Group LLC increased its holdings in Global-E Online by 9.6% during the second 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. SG Americas Securities LLC raised its stake in Global-E Online by 5,939.0% in the fourth quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock valued at $34,703,000 after buying an additional 625,855 shares during the period. Finally, Eventide Asset Management LLC raised its position in shares of Global-E Online by 59.1% in the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock valued at $60,091,000 after purchasing an additional 580,450 shares during the period. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-E Online Company Profile

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.