Global-E Online (NASDAQ:GLBE) Hits New 1-Year High – Here’s What Happened

Global-E Online Ltd. (NASDAQ:GLBE)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $59.80 and last traded at $59.06, with a volume of 220684 shares traded. The stock had previously closed at $58.03.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group lifted their price objective on Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 18th. KeyCorp boosted their price target on shares of Global-E Online from $38.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group increased their price target on shares of Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. UBS Group dropped their price objective on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, October 18th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $48.00 target price on shares of Global-E Online in a report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Global-E Online presently has a consensus rating of “Moderate Buy” and an average target price of $53.25.

Global-E Online Price Performance

The business’s 50 day moving average is $53.96 and its 200 day moving average is $42.57. The stock has a market cap of $9.97 billion, a price-to-earnings ratio of -104.63, a P/E/G ratio of 5.85 and a beta of 1.22.

Institutional Investors Weigh In On Global-E Online

Several hedge funds and other institutional investors have recently made changes to their positions in GLBE. Public Sector Pension Investment Board raised its position in shares of Global-E Online by 7.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 41,950 shares of the company’s stock worth $1,522,000 after acquiring an additional 2,862 shares in the last quarter. Toronto Dominion Bank acquired a new stake in shares of Global-E Online during the 2nd quarter worth about $40,000. APG Asset Management N.V. acquired a new stake in shares of Global-E Online during the 2nd quarter worth about $353,000. The Manufacturers Life Insurance Company raised its position in shares of Global-E Online by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,359 shares of the company’s stock worth $1,319,000 after acquiring an additional 900 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in shares of Global-E Online during the 2nd quarter worth about $250,000. Institutional investors and hedge funds 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.