Global-E Online (NASDAQ:GLBE) Sets New 52-Week High After Analyst Upgrade

Global-E Online Ltd. (NASDAQ:GLBE) shares reached a new 52-week high on Tuesday after KeyCorp raised their price target on the stock from $38.00 to $55.00. KeyCorp currently has an overweight rating on the stock. Global-E Online traded as high as $52.57 and last traded at $52.27, with a volume of 184932 shares trading hands. The stock had previously closed at $52.02.

Several other research firms have also recently issued reports on GLBE. Raymond James upped their price target on shares of Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Jefferies Financial Group upped their target price on shares of Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 price target on shares of Global-E Online in a research note on Monday, November 18th. JMP Securities boosted their price objective on Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a report on Thursday, November 21st. 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 report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Global-E Online has an average rating of “Moderate Buy” and a consensus price target of $51.33.

Institutional Investors Weigh In On Global-E Online

A number of institutional investors and hedge funds have recently bought and sold shares of GLBE. CIBC Asset Management Inc raised its holdings in shares of Global-E Online by 4.4% in the 3rd quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock worth $362,000 after purchasing an additional 393 shares in the last quarter. American International Group Inc. lifted its position in shares of Global-E Online by 3.2% during the 1st quarter. American International Group Inc. now owns 15,619 shares of the company’s stock valued at $568,000 after acquiring an additional 484 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Global-E Online by 7.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 7,300 shares of the company’s stock worth $265,000 after acquiring an additional 500 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Global-E Online by 1.6% in the 3rd quarter. Van ECK Associates Corp now owns 32,828 shares of the company’s stock worth $1,235,000 after acquiring an additional 508 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Global-E Online by 18.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after purchasing an additional 624 shares during the period. 94.60% of the stock is owned by institutional investors and hedge funds.

Global-E Online Price Performance

The firm has a market capitalization of $8.52 billion, a PE ratio of -89.31 and a beta of 1.10. The firm has a fifty day moving average price of $39.75 and a 200 day moving average price of $35.61.

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.