Global-E Online (NASDAQ:GLBE) Hits New 1-Year High – Should You Buy?

Shares of Global-E Online Ltd. (NASDAQ:GLBE) hit a new 52-week high during trading on Wednesday . The stock traded as high as $43.17 and last traded at $42.76, with a volume of 146220 shares. The stock had previously closed at $42.53.

Analyst Upgrades and Downgrades

Several analysts have commented on GLBE shares. Piper Sandler restated a “buy” rating on shares of Global-E Online in a report on Friday, October 18th. UBS Group dropped their target price on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Morgan Stanley downgraded 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 report on Friday, October 18th. Bank of America dropped their target price on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price target on shares of Global-E Online in a research note on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.09.

Global-E Online Trading Down 2.9 %

The firm’s 50 day moving average price is $38.00 and its two-hundred day moving average price is $34.72. The company has a market capitalization of $6.74 billion, a P/E ratio of -63.11 and a beta of 1.10.

Global-E Online (NASDAQ:GLBE) last released its earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.03. Global-E Online had a negative net margin of 17.33% and a negative return on equity of 16.41%. The business had revenue of $168.00 million during the quarter, compared to analysts’ expectations of $165.95 million. During the same period last year, the business earned ($0.22) earnings per share. The firm’s revenue was up 26.0% on a year-over-year basis. Analysts anticipate that Global-E Online Ltd. will post -0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CIBC Asset Management Inc grew its stake in shares of Global-E Online by 4.4% in the third quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock valued at $362,000 after buying an additional 393 shares in the last quarter. American International Group Inc. grew its stake in shares of Global-E Online by 3.2% in the first quarter. American International Group Inc. now owns 15,619 shares of the company’s stock valued at $568,000 after buying an additional 484 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Global-E Online by 7.4% in the second quarter. Daiwa Securities Group Inc. now owns 7,300 shares of the company’s stock valued at $265,000 after buying an additional 500 shares in the last quarter. Van ECK Associates Corp boosted its position in Global-E Online by 1.6% during the third quarter. Van ECK Associates Corp now owns 32,828 shares of the company’s stock worth $1,235,000 after purchasing an additional 508 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in Global-E Online by 18.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after purchasing an additional 624 shares during the period. 94.60% of the stock is owned by institutional investors.

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.