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

Global-E Online Ltd. (NASDAQ:GLBE) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $58.90 and last traded at $56.99, with a volume of 121448 shares traded. The stock had previously closed at $57.16.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. JMP Securities upped their price target on shares of Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 21st. Wells Fargo & Company upped their price target on shares of Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Benchmark upped their price target on shares of Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. KeyCorp upped their target price on shares of Global-E Online from $38.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, Raymond James upped their target price on shares of Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $53.25.

Global-E Online Price Performance

The company’s 50-day moving average price is $52.68 and its two-hundred day moving average price is $42.00. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of -98.12, a PEG ratio of 5.77 and a beta of 1.22.

Institutional Investors Weigh In On Global-E Online

Large investors have recently modified their holdings of the company. Fred Alger Management LLC acquired a new stake in shares of Global-E Online during the third quarter worth $53,493,000. JPMorgan Chase & Co. grew its holdings in Global-E Online by 40.7% in the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after purchasing an additional 533,675 shares during the period. Dragoneer Investment Group LLC grew its holdings in Global-E Online by 9.6% in the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock worth $534,403,000 after purchasing an additional 1,288,829 shares during the period. Public Sector Pension Investment Board grew its holdings in Global-E Online by 23.8% in the third quarter. Public Sector Pension Investment Board now owns 51,950 shares of the company’s stock worth $1,997,000 after purchasing an additional 10,000 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Global-E Online by 3.4% in the third quarter. Geode Capital Management LLC now owns 933,476 shares of the company’s stock worth $35,722,000 after purchasing an additional 30,995 shares during the period. 94.60% of the stock is currently owned by institutional investors and hedge funds.

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.