Global-E Online (NASDAQ:GLBE) Sets New 52-Week High Following Analyst Upgrade

Shares of Global-E Online Ltd. (NASDAQ:GLBE - Get Free Report) hit a new 52-week high during mid-day trading on Monday after KeyCorp raised their price target on the stock from $55.00 to $65.00. KeyCorp currently has an overweight rating on the stock. Global-E Online traded as high as $62.85 and last traded at $61.15, with a volume of 254886 shares trading hands. The stock had previously closed at $59.49.

GLBE has been the topic of several other research reports. Benchmark increased their target price on Global-E Online from $41.00 to $45.00 and gave the stock a "buy" rating in a report on Monday, November 18th. Needham & Company LLC reissued a "buy" rating and set a $48.00 price objective on shares of Global-E Online in a report on Monday, November 18th. Raymond James raised their price objective 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. Jefferies Financial Group upped their target price on shares of Global-E Online from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Monday, November 18th. Finally, The Goldman Sachs Group raised their price target 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. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Global-E Online currently has a consensus rating of "Moderate Buy" and an average target price of $54.08.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GLBE. Clearbridge Investments LLC boosted its holdings in Global-E Online by 1.5% during the fourth quarter. Clearbridge Investments LLC now owns 2,268,618 shares of the company's stock worth $123,708,000 after buying an additional 34,391 shares during the last quarter. JPMorgan Chase & Co. grew its stake 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 valued at $70,979,000 after acquiring an additional 533,675 shares during the period. Eventide Asset Management LLC raised its position in shares of Global-E Online by 59.1% during the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company's stock worth $60,091,000 after purchasing an additional 580,450 shares during the period. State Street Corp grew its position in shares of Global-E Online by 3.7% in the 3rd quarter. State Street Corp now owns 1,550,647 shares of the company's stock valued at $59,607,000 after purchasing an additional 55,760 shares during the period. Finally, Fred Alger Management LLC acquired a new stake in Global-E Online during the 3rd quarter worth approximately $53,493,000. 94.60% of the stock is currently owned by institutional investors.

Global-E Online Stock Up 1.6 %

The company's fifty day moving average price is $56.28 and its two-hundred day moving average price is $44.61. The company has a market cap of $10.28 billion, a price-to-earnings ratio of -107.96, a PEG 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.