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

Global-E Online Ltd. (NASDAQ:GLBE) hit a new 52-week high on Wednesday . The company traded as high as $52.26 and last traded at $47.75, with a volume of 697622 shares. The stock had previously closed at $42.74.

Wall Street Analyst Weigh In

Several brokerages have commented on GLBE. Benchmark boosted their price target on shares of Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday. Jefferies Financial Group upped their price target on shares of Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Monday. Morgan Stanley lowered shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 target price on the stock. in a research report on Friday, October 18th. Needham & Company LLC restated a “buy” rating and set a $48.00 target price on shares of Global-E Online in a research report on Monday. Finally, Raymond James increased their target price on shares of Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.92.

Global-E Online Stock Performance

The firm has a market cap of $8.19 billion, a P/E ratio of -76.75 and a beta of 1.10. The company’s 50 day moving average is $38.90 and its 200 day moving average is $35.12.

Hedge Funds Weigh In On Global-E Online

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC bought a new position in shares of Global-E Online during the second quarter valued at $83,036,000. Brown Capital Management LLC bought a new position in shares of Global-E Online during the first quarter valued at $69,352,000. Capital World Investors raised its stake in shares of Global-E Online by 60.5% during the first quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock valued at $181,150,000 after acquiring an additional 1,877,953 shares during the last quarter. Fred Alger Management LLC bought a new position in shares of Global-E Online during the third quarter valued at $53,493,000. Finally, Dragoneer Investment Group LLC raised its stake in shares of Global-E Online by 9.6% during the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after acquiring an additional 1,288,829 shares during the last quarter. Institutional investors 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.