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

Shares of Global-E Online Ltd. (NASDAQ:GLBE) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $52.75 and last traded at $52.53, with a volume of 98510 shares trading hands. The stock had previously closed at $52.28.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GLBE. KeyCorp increased their price objective on shares of Global-E Online from $38.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. UBS Group reduced their price objective on Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Jefferies Financial Group raised their target price on Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 price target on shares of Global-E Online in a research note on Monday, November 18th. Finally, Bank of America dropped their price target on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.33.

Global-E Online Stock Performance

The company has a 50 day moving average of $40.60 and a 200 day moving average of $36.08. The firm has a market cap of $8.58 billion, a P/E ratio of -89.79 and a beta of 1.10.

Hedge Funds Weigh In On Global-E Online

Several institutional investors have recently bought and sold shares of the stock. Fred Alger Management LLC bought a new stake in Global-E Online during the third quarter valued at about $53,493,000. Dragoneer Investment Group LLC increased its position in 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 worth $534,403,000 after acquiring an additional 1,288,829 shares during the period. WINTON GROUP Ltd acquired a new position in Global-E Online during the 2nd quarter valued at $623,000. Clearbridge Investments LLC bought a new position in shares of Global-E Online during the 2nd quarter worth about $83,036,000. Finally, Summit Creek Advisors LLC acquired a new position in shares of Global-E Online during the second quarter valued at about $11,449,000. 94.60% of the stock is currently 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.