Global-E Online (NASDAQ:GLBE) Reaches New 1-Year High – Should You Buy?

Global-E Online Ltd. (NASDAQ:GLBE) shares hit a new 52-week high during trading on Monday . The stock traded as high as $52.75 and last traded at $52.53, with a volume of 98510 shares trading hands. The stock had previously closed at $52.28.

Analyst Ratings Changes

GLBE has been the subject of several recent analyst reports. JMP Securities upped their target price on Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 21st. Bank of America reduced their price objective on Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Benchmark increased their target price on shares of 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 reaffirmed an “overweight” rating and set a $63.00 price target (up from $44.00) on shares of Global-E Online in a report on Thursday, November 21st. Finally, KeyCorp increased their price objective on shares of Global-E Online from $38.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Global-E Online currently has a consensus rating of “Moderate Buy” and an average target price of $51.33.

Global-E Online Trading Up 0.2 %

The stock’s 50-day simple moving average is $40.88 and its 200 day simple moving average is $36.25.

Institutional Investors Weigh In On Global-E Online

Several institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in Global-E Online by 28.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,985 shares of the company’s stock valued at $654,000 after buying an additional 3,985 shares during the period. California State Teachers Retirement System boosted its stake in Global-E Online by 12.4% during the first quarter. California State Teachers Retirement System now owns 127,869 shares of the company’s stock worth $4,648,000 after acquiring an additional 14,139 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Global-E Online by 18.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after purchasing an additional 624 shares during the period. CWM LLC increased its stake in Global-E Online by 38.5% in the second quarter. CWM LLC now owns 21,515 shares of the company’s stock valued at $780,000 after purchasing an additional 5,977 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Global-E Online by 369.0% during the second quarter. Assenagon Asset Management S.A. now owns 847,094 shares of the company’s stock valued at $30,724,000 after purchasing an additional 666,491 shares during the period. Institutional investors own 94.60% of the company’s stock.

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.