Global-E Online (NASDAQ:GLBE) Reaches New 52-Week High – Here’s Why

Global-E Online Ltd. (NASDAQ:GLBE) shares hit a new 52-week high during trading on Monday . The company traded as high as $56.80 and last traded at $56.80, with a volume of 2495 shares. The stock had previously closed at $56.46.

Wall Street Analyst Weigh In

GLBE has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and set a $48.00 price objective on shares of Global-E Online 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 stock an “overweight” rating in a report on Thursday, November 21st. Benchmark boosted their price objective on Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Piper Sandler reissued an “overweight” rating and set a $63.00 price objective (up from $44.00) on shares of Global-E Online in a report on Thursday, November 21st. Finally, KeyCorp boosted their price objective on Global-E Online from $38.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.33.

Global-E Online Price Performance

The company has a market capitalization of $9.33 billion, a P/E ratio of -97.97 and a beta of 1.24. The firm has a fifty day moving average price of $44.71 and a 200-day moving average price of $38.13.

Hedge Funds Weigh In On Global-E Online

Institutional investors have recently bought and sold shares of the company. Fred Alger Management LLC purchased a new position in Global-E Online in the third quarter valued at approximately $53,493,000. Dragoneer Investment Group LLC lifted its stake in Global-E Online by 9.6% in the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after purchasing an additional 1,288,829 shares during the last quarter. WINTON GROUP Ltd purchased a new position in Global-E Online in the second quarter valued at approximately $623,000. Public Sector Pension Investment Board lifted its stake in Global-E Online by 23.8% in the third quarter. Public Sector Pension Investment Board now owns 51,950 shares of the company’s stock valued at $1,997,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Clearbridge Investments LLC purchased a new position in Global-E Online in the second quarter valued at approximately $83,036,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.

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.