Global-E Online (NASDAQ:GLBE) Hits New 1-Year High – Here’s What Happened

Global-E Online Ltd. (NASDAQ:GLBE)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $59.80 and last traded at $59.06, with a volume of 220684 shares trading hands. The stock had previously closed at $58.03.

Analyst Upgrades and Downgrades

GLBE has been the subject of several recent research reports. The Goldman Sachs Group lifted their target price on shares of Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a report on Friday, January 10th. JMP Securities boosted their price target on shares of Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a report on Thursday, November 21st. KeyCorp boosted their price target on shares of Global-E Online from $38.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Wells Fargo & Company boosted their price target on shares of Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, Morgan Stanley lowered shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price target for the company. in a report on Friday, October 18th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.25.

Global-E Online Stock Performance

The firm’s 50 day simple moving average is $53.96 and its 200-day simple moving average is $42.57. The company has a market cap of $9.97 billion, a price-to-earnings ratio of -104.63, a PEG ratio of 5.85 and a beta of 1.22.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GLBE. Fifth Third Bancorp boosted its position in shares of Global-E Online by 69.1% during the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after acquiring an additional 197 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Global-E Online during the 3rd quarter valued at about $32,000. Toronto Dominion Bank acquired a new position in shares of Global-E Online during the 2nd quarter valued at about $40,000. Geneos Wealth Management Inc. boosted 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 last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of Global-E Online during the 3rd quarter valued at about $87,000. Institutional investors and hedge funds 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.