Global-E Online (NASDAQ:GLBE) Sets New 1-Year High – Still a Buy?

Global-E Online Ltd. (NASDAQ:GLBE)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $58.90 and last traded at $56.99, with a volume of 121448 shares changing hands. The stock had previously closed at $57.16.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GLBE shares. Morgan Stanley downgraded shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective on the stock. in a research note on Friday, October 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a report on Monday, November 18th. Wells Fargo & Company raised their price target on shares of Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. UBS Group cut their price objective on Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Finally, Benchmark boosted their target price on shares of Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 18th. One 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $53.25.

Global-E Online Stock Down 0.8 %

The company has a fifty day moving average price of $53.28 and a 200 day moving average price of $42.20.

Institutional Investors Weigh In On Global-E Online

Several hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp increased its holdings in shares of Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after acquiring an additional 197 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Global-E Online in the third quarter worth about $32,000. Toronto Dominion Bank purchased a new position in shares of Global-E Online in the second quarter worth approximately $40,000. Geneos Wealth Management Inc. grew its position in shares of Global-E Online by 1,968.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after acquiring an additional 748 shares during the period. Finally, Venturi Wealth Management LLC bought a new stake in Global-E Online during the third quarter valued at about $87,000. 94.60% of the stock is currently owned by institutional investors.

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.