Global-E Online (NASDAQ:GLBE) Sets New 52-Week High – Time to Buy?

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Jefferies Financial Group upped their target price 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, November 18th. Piper Sandler raised their price target on Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Benchmark raised their price target on Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Morgan Stanley lowered 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 report on Friday, October 18th. Finally, Wells Fargo & Company boosted their price objective on shares of Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Global-E Online presently has a consensus rating of “Moderate Buy” and an average price target of $53.25.

Global-E Online Price Performance

The firm has a 50 day moving average of $54.56 and a 200-day moving average of $42.86.

Institutional Investors Weigh In On Global-E Online

Large investors have recently modified their holdings of the business. Fifth Third Bancorp boosted its holdings 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 in the last quarter. CIBC Asset Management Inc grew its holdings in Global-E Online by 4.4% during the 3rd quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock worth $362,000 after acquiring an additional 393 shares during the period. Juncture Wealth Strategies LLC lifted its stake in Global-E Online by 3.9% in the fourth quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company’s stock valued at $718,000 after buying an additional 494 shares during the period. Daiwa Securities Group Inc. grew its holdings in Global-E Online by 6.8% in the third quarter. Daiwa Securities Group Inc. now owns 7,800 shares of the company’s stock worth $300,000 after purchasing an additional 500 shares during the period. Finally, Van ECK Associates Corp increased its position in Global-E Online by 1.6% in the 3rd quarter. Van ECK Associates Corp now owns 32,828 shares of the company’s stock valued at $1,235,000 after buying an additional 508 shares in the last quarter. Institutional investors and hedge funds 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.