Global-E Online (NASDAQ:GLBE) Sets New 12-Month High Following Analyst Upgrade

Global-E Online Ltd. (NASDAQ:GLBE) shares reached a new 52-week high on Tuesday after Morgan Stanley raised their price target on the stock from $52.00 to $55.00. Morgan Stanley currently has an equal weight rating on the stock. Global-E Online traded as high as $63.92 and last traded at $62.65, with a volume of 2921 shares trading hands. The stock had previously closed at $62.84.

GLBE has been the topic of several other reports. Needham & Company LLC restated a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a research report on Monday, November 18th. JMP Securities boosted their price target on Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a report on Thursday, November 21st. KeyCorp increased their price objective on shares of Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Piper Sandler boosted their target price on shares of Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, The Goldman Sachs Group raised their target price on shares of Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, January 10th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Global-E Online has an average rating of “Moderate Buy” and an average price target of $55.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLBE. Values First Advisors Inc. boosted its holdings in shares of Global-E Online by 49.2% in the 3rd quarter. Values First Advisors Inc. now owns 13,070 shares of the company’s stock worth $502,000 after purchasing an additional 4,309 shares during the period. Mount Yale Investment Advisors LLC purchased a new position in Global-E Online during the third quarter worth $323,000. Mediolanum International Funds Ltd purchased a new position in Global-E Online during the third quarter worth $315,000. Focus Financial Network Inc. increased its position in Global-E Online by 11.2% during the third quarter. Focus Financial Network Inc. now owns 6,899 shares of the company’s stock valued at $265,000 after acquiring an additional 694 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Global-E Online in the third quarter valued at $362,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Performance

The company’s fifty day moving average price is $56.82 and its 200-day moving average price is $45.30. The stock has a market cap of $10.17 billion, a P/E ratio of -106.72, a price-to-earnings-growth ratio of 6.16 and a beta of 1.23.

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.