Global-E Online (NASDAQ:GLBE) Reaches New 52-Week High After Analyst Upgrade

Shares of Global-E Online Ltd. (NASDAQ:GLBE - Get Free Report) reached a new 52-week high during trading on Tuesday after Needham & Company LLC raised their price target on the stock from $55.00 to $64.00. Needham & Company LLC currently has a buy 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. The stock had previously closed at $62.84.

A number of other research analysts have also recently commented on GLBE. Jefferies Financial Group increased their price target on shares of Global-E Online from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Monday, November 18th. The Goldman Sachs Group increased their target price on shares of Global-E Online from $56.00 to $63.00 and gave the company a "buy" rating in a report on Friday, January 10th. KeyCorp boosted their price target on shares of Global-E Online from $55.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. JMP Securities upped their price target on shares of Global-E Online from $46.00 to $64.00 and gave the company a "market outperform" rating in a research report on Thursday, November 21st. Finally, Benchmark lifted their price objective on Global-E Online from $41.00 to $45.00 and gave the stock a "buy" rating in a report on Monday, November 18th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Global-E Online presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.58.

Institutional Trading of Global-E Online

Institutional investors have recently modified their holdings of the company. Fred Alger Management LLC purchased a new position in Global-E Online during the 3rd quarter valued at about $53,493,000. TimesSquare Capital Management LLC grew its position in shares of Global-E Online by 6.3% in the 4th quarter. TimesSquare Capital Management LLC now owns 770,999 shares of the company's stock worth $42,043,000 after buying an additional 45,739 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Global-E Online by 40.7% during the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company's stock valued at $70,979,000 after buying an additional 533,675 shares during the period. Mount Yale Investment Advisors LLC raised its holdings in shares of Global-E Online by 143.8% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 20,507 shares of the company's stock valued at $1,118,000 after acquiring an additional 12,094 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its stake 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 acquiring an additional 10,000 shares during the period. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Global-E Online Stock Down 3.3 %

The firm's fifty day moving average is $56.49 and its two-hundred day moving average is $45.65. The firm has a market cap of $7.40 billion, a P/E ratio of -102.43, a PEG ratio of 5.03 and a beta of 1.23.

Global-E Online (NASDAQ:GLBE - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.60%. The firm had revenue of $262.91 million during the quarter, compared to analysts' expectations of $250.96 million. During the same period last year, the company posted $0.22 EPS. The company's quarterly revenue was up 41.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Global-E Online Ltd. will post 0.25 EPS for the current year.

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.