Global-E Online (NASDAQ:GLBE) Reaches New 12-Month High After Analyst Upgrade

Global-E Online Ltd. (NASDAQ:GLBE)’s stock price hit a new 52-week high during mid-day 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 trading hands. The stock had previously closed at $59.49.

Several other brokerages have also commented on GLBE. Needham & Company LLC restated a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a report on Monday, November 18th. Wells Fargo & Company lifted their target price on shares of Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. JMP Securities boosted their price objective on shares of Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a research report on Thursday, November 21st. Jefferies Financial Group boosted their price objective on shares of Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Finally, Benchmark lifted their target price on shares of Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 18th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Global-E Online currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.08.

Hedge Funds Weigh In On Global-E Online

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Avantax Advisory Services Inc. purchased a new position in shares of Global-E Online in the fourth quarter worth $216,000. Daiwa Securities Group Inc. raised its holdings in shares of Global-E Online by 2.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock worth $436,000 after buying an additional 200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Global-E Online by 6.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,779 shares of the company’s stock worth $1,297,000 after buying an additional 1,529 shares during the last quarter. Amundi raised its holdings in shares of Global-E Online by 126.9% in the fourth quarter. Amundi now owns 788,542 shares of the company’s stock worth $41,619,000 after buying an additional 440,953 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Global-E Online in the fourth quarter worth $2,868,000. 94.60% of the stock is currently owned by institutional investors.

Global-E Online Stock Up 2.9 %

The stock 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. The stock’s 50 day moving average price is $55.72 and its two-hundred day moving average price is $44.10.

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.