Global-E Online (NASDAQ:GLBE) Hits New 52-Week High – What’s Next?

Global-E Online Ltd. (NASDAQ:GLBE)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $54.55 and last traded at $54.38, with a volume of 14787 shares trading hands. The stock had previously closed at $54.21.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Bank of America reduced their price target on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Benchmark boosted their target price on Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Jefferies Financial Group increased their price target on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. 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 report on Thursday, November 21st. Finally, UBS Group cut their target price on Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, October 18th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Global-E Online has an average rating of “Moderate Buy” and an average price target of $51.33.

Global-E Online Stock Performance

The stock’s fifty day simple moving average is $42.12 and its 200-day simple moving average is $36.90.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLBE. Capital Performance Advisors LLP purchased a new stake in shares of Global-E Online during the 3rd quarter valued at $32,000. Toronto Dominion Bank bought a new position in Global-E Online during the second quarter valued at about $40,000. Venturi Wealth Management LLC purchased a new stake in Global-E Online during the third quarter worth about $87,000. Quarry LP raised its position in Global-E Online by 226.1% in the third quarter. Quarry LP now owns 2,286 shares of the company’s stock worth $88,000 after acquiring an additional 1,585 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in Global-E Online in the second quarter valued at about $220,000. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

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.