Global-E Online (NASDAQ:GLBE) Sets New 1-Year High on Analyst Upgrade

Shares of Global-E Online Ltd. (NASDAQ:GLBE) reached a new 52-week high during trading on Monday after KeyCorp raised their price target on the stock from $55.00 to $65.00. KeyCorp currently has an overweight rating on the stock. Global-E Online traded as high as $62.85 and last traded at $61.15, with a volume of 254886 shares traded. The stock had previously closed at $59.49.

Several other equities research analysts have also issued reports on GLBE. Morgan Stanley lowered Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 target price for the company. in a research report on Friday, October 18th. Raymond James raised their price objective on Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Wells Fargo & Company raised their price objective on Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. The Goldman Sachs Group lifted their price target on Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, Jefferies Financial Group boosted their target price 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. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.08.

Institutional Trading of Global-E Online

A number of institutional investors and hedge funds have recently made changes to their positions in GLBE. Values First Advisors Inc. boosted its holdings in shares of Global-E Online by 49.2% in the third quarter. Values First Advisors Inc. now owns 13,070 shares of the company’s stock valued at $502,000 after acquiring an additional 4,309 shares in the last quarter. Mount Yale Investment Advisors LLC bought a new position in shares of Global-E Online in the 3rd quarter valued at approximately $323,000. Mediolanum International Funds Ltd bought a new position in shares of Global-E Online in the 3rd quarter valued at approximately $315,000. Focus Financial Network Inc. increased its position in Global-E Online by 11.2% in the 3rd quarter. Focus Financial Network Inc. now owns 6,899 shares of the company’s stock worth $265,000 after buying an additional 694 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Global-E Online during the 3rd quarter worth approximately $362,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-E Online Trading Up 2.9 %

The company has a 50 day moving average of $55.72 and a 200 day moving average of $44.10. The firm has a market cap of $10.05 billion, a price-to-earnings ratio of -105.49, a price-to-earnings-growth ratio of 6.16 and a beta of 1.23.

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.