Global-E Online (NASDAQ:GLBE) Hits New 12-Month High on Analyst Upgrade

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

Several other equities research analysts have also recently issued reports on the stock. Morgan Stanley cut shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price target on the stock. in a research note on Friday, October 18th. Jefferies Financial Group lifted their target price on shares of Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Benchmark increased their price target on Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. The Goldman Sachs Group lifted their price objective on Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, Wells Fargo & Company increased their target price on Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Global-E Online has an average rating of “Moderate Buy” and an average target price of $54.08.

Institutional Investors Weigh In On Global-E Online

Several large investors have recently made changes to their positions in the business. Fred Alger Management LLC purchased a new stake in Global-E Online during the 3rd quarter worth $53,493,000. JPMorgan Chase & Co. lifted its stake in shares of Global-E Online by 40.7% during the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after purchasing an additional 533,675 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its position in shares of Global-E Online by 143.8% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 20,507 shares of the company’s stock worth $1,118,000 after buying an additional 12,094 shares during the period. Public Sector Pension Investment Board grew its stake in shares of Global-E Online by 23.8% in the third quarter. Public Sector Pension Investment Board now owns 51,950 shares of the company’s stock valued at $1,997,000 after buying an additional 10,000 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Global-E Online by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 933,476 shares of the company’s stock valued at $35,722,000 after buying an additional 30,995 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-E Online Trading Up 1.2 %

The stock has a market capitalization of $10.28 billion, a price-to-earnings ratio of -107.90, a price-to-earnings-growth ratio of 6.16 and a beta of 1.23. The firm has a 50-day moving average of $56.11 and a 200 day moving average of $44.49.

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.