Global-E Online (NASDAQ:GLBE) Reaches New 12-Month High – Here’s Why

Global-E Online Ltd. (NASDAQ:GLBE) reached 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 changing hands. The stock had previously closed at $52.28.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GLBE. Piper Sandler reiterated an “overweight” rating and issued a $63.00 target price (up from $44.00) on shares of Global-E Online in a report on Thursday, November 21st. Morgan Stanley lowered shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective on the stock. in a research note on Friday, October 18th. Jefferies Financial Group boosted 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 report on Monday, November 18th. Wells Fargo & Company raised their price target 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. Finally, Bank of America decreased their price objective on Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, August 15th. One equities research 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 presently has an average rating of “Moderate Buy” and a consensus target price of $51.33.

Global-E Online Stock Performance

The stock has a 50 day moving average price of $40.88 and a 200 day moving average price of $36.25.

Institutional Trading of Global-E Online

Hedge funds have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC purchased a new stake in shares of Global-E Online during the 2nd quarter worth approximately $83,036,000. Fred Alger Management LLC bought a new stake in shares of Global-E Online in the third quarter valued at $53,493,000. Dragoneer Investment Group LLC lifted its position in shares of Global-E Online by 9.6% during the 2nd quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after buying an additional 1,288,829 shares during the last quarter. Hood River Capital Management LLC bought a new position in shares of Global-E Online during the 2nd quarter worth $36,182,000. Finally, Assenagon Asset Management S.A. increased its holdings in Global-E Online by 369.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 847,094 shares of the company’s stock worth $30,724,000 after acquiring an additional 666,491 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.