Global-E Online (NASDAQ:GLBE) Hits New 52-Week High – Time to Buy?

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on GLBE shares. KeyCorp cut their price target on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Piper Sandler restated a “buy” rating on shares of Global-E Online in a research note on Friday, October 18th. Bank of America dropped their price target on 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. Needham & Company LLC restated a “buy” rating and set a $48.00 target price on shares of Global-E Online in a research report on Thursday, August 15th. Finally, UBS Group decreased their price objective on Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, October 18th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Global-E Online has a consensus rating of “Moderate Buy” and a consensus target price of $43.09.

Global-E Online Stock Up 1.1 %

The company’s 50 day moving average price is $37.67 and its two-hundred day moving average price is $34.63.

Global-E Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. Global-E Online had a negative return on equity of 16.41% and a negative net margin of 17.33%. The firm had revenue of $168.00 million for the quarter, compared to analysts’ expectations of $165.95 million. During the same period in the previous year, the firm posted ($0.22) earnings per share. The business’s revenue was up 26.0% compared to the same quarter last year. On average, research analysts expect 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

Hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new position in Global-E Online in the third quarter worth approximately $32,000. Toronto Dominion Bank purchased a new stake in shares of Global-E Online in the 2nd quarter worth approximately $40,000. Venturi Wealth Management LLC purchased a new position in Global-E Online during the third quarter valued at approximately $87,000. DekaBank Deutsche Girozentrale increased its holdings in shares of Global-E Online by 18.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after acquiring an additional 624 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Global-E Online by 15.2% in the 1st quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock worth $215,000 after purchasing an additional 780 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors.

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.