Global-e Online (NASDAQ:GLBE) Raised to “Buy” at Wall Street Zen

by · The Cerbat Gem

Global-e Online (NASDAQ:GLBE – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other brokerages also recently commented on GLBE. Truist Financial boosted their target price on shares of Global-e Online from $39.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Global-e Online to an “accumulate” rating in a research report on Wednesday, May 27th. UBS Group set a $54.00 price target on shares of Global-e Online and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group restated a “buy” rating on shares of Global-e Online in a research report on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Global-e Online in a research note on Wednesday, May 27th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.23.

Check Out Our Latest Stock Report on Global-e Online

Global-e Online Stock Performance

Shares of GLBE opened at $42.36 on Friday. The stock has a market cap of $7.19 billion, a PE ratio of 49.26 and a beta of 1.03. Global-e Online has a 1 year low of $26.84 and a 1 year high of $43.99. The stock has a 50 day simple moving average of $36.82 and a 200-day simple moving average of $34.00.

Global-e Online (NASDAQ:GLBE – Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.37 EPS for the quarter. Global-e Online had a return on equity of 16.70% and a net margin of 13.87%.The business had revenue of $299.00 million for the quarter. On average, sell-side analysts forecast that Global-e Online will post 1.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Amir Schlachet sold 100,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $42.20, for a total value of $4,220,000.00. Following the completion of the sale, the chief executive officer directly owned 3,965,422 shares in the company, valued at approximately $167,340,808.40. This trade represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Shahar Tamari sold 28,623 shares of Global-e Online stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $36.02, for a total value of $1,031,000.46. Following the completion of the transaction, the chief operating officer directly owned 3,956,685 shares of the company’s stock, valued at $142,519,793.70. This represents a 0.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 473,773 shares of company stock worth $17,707,863. Insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On Global-e Online

Hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its stake in shares of Global-e Online by 73.3% in the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock worth $38,000 after acquiring an additional 448 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Global-e Online during the fourth quarter valued at approximately $39,000. Geneos Wealth Management Inc. grew its stake in shares of Global-e Online by 67.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock valued at $47,000 after purchasing an additional 528 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Global-e Online by 780.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock valued at $61,000 after purchasing an additional 1,616 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Global-e Online in the fourth quarter valued at approximately $72,000. Institutional investors own 94.60% of the company’s stock.

About Global-e Online

(Get Free Report)

Global-e Online Ltd. (NASDAQ: GLBE) is a leading cross-border e-commerce platform that enables online merchants to expand sales internationally. The company’s cloud-based solution integrates with major e-commerce systems to offer localized checkout experiences, dynamic currency conversion, import duties and taxes calculation, fraud prevention, and compliance with local trade regulations. By managing the end-to-end complexities of global transactions, Global-e helps retailers streamline their international operations and deliver a seamless shopping experience to customers worldwide.

Central to Global-e’s offering is a comprehensive suite of services that includes customizable checkout in the buyer’s local language, real-time display of prices in over 140 currencies, support for region-specific payment methods, and transparent calculation of duties and taxes at point of sale.

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