Global-E Online (NASDAQ:GLBE) Sets New 1-Year High After Analyst Upgrade

Global-E Online Ltd. (NASDAQ:GLBE)’s share price hit a new 52-week high during mid-day trading on Tuesday after Morgan Stanley raised their price target on the stock from $52.00 to $55.00. Morgan Stanley currently has an equal weight rating on the stock. Global-E Online traded as high as $63.92 and last traded at $62.65, with a volume of 2921 shares traded. The stock had previously closed at $62.84.

A number of other analysts have also weighed in on GLBE. Benchmark raised their price objective 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. The Goldman Sachs Group raised their price target on shares of Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Jefferies Financial Group upped their price objective on Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. KeyCorp lifted their target price on Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price target on shares of Global-E Online in a report on Monday, November 18th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.33.

Hedge Funds Weigh In On Global-E Online

Several institutional investors have recently made changes to their positions in GLBE. Fred Alger Management LLC boosted its stake in shares of Global-E Online by 204.6% during the 4th quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company’s stock worth $231,178,000 after acquiring an additional 2,847,868 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in Global-E Online in the 4th quarter worth $40,146,000. Norges Bank purchased a new position in Global-E Online during the fourth quarter valued at $38,875,000. SG Americas Securities LLC grew its holdings in Global-E Online by 5,939.0% during the fourth quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock valued at $34,703,000 after purchasing an additional 625,855 shares during the period. Finally, Eventide Asset Management LLC increased its position in Global-E Online by 59.1% in the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock worth $60,091,000 after buying an additional 580,450 shares in the last quarter. Institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Down 1.5 %

The stock has a market cap of $10.17 billion, a P/E ratio of -106.72, a P/E/G ratio of 6.16 and a beta of 1.23. The firm has a 50 day moving average price of $56.82 and a 200 day moving average price of $45.30.

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.