Global-e Online (NASDAQ:GLBE) Price Target Raised to $47.00

by · The Markets Daily

Global-e Online (NASDAQ:GLBE – Free Report) had its target price hoisted by Truist Financial from $41.00 to $47.00 in a research note published on Tuesday, MarketBeat.com reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. Wall Street Zen upgraded Global-e Online from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Global-e Online to an “accumulate” rating in a research note on Wednesday, May 27th. Piper Sandler reissued an “overweight” rating and issued a $48.00 price objective on shares of Global-e Online in a report on Tuesday, August 11th. Needham & Company LLC restated a “buy” rating on shares of Global-e Online in a research report on Wednesday, May 27th. Finally, Morgan Stanley upped their target price on shares of Global-e Online from $44.00 to $46.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.69.

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Global-e Online Trading Up 0.9%

Shares of GLBE stock opened at $39.49 on Tuesday. Global-e Online has a 12-month low of $26.84 and a 12-month high of $43.99. The stock has a market capitalization of $6.70 billion, a P/E ratio of 45.92 and a beta of 1.03. The firm’s 50 day moving average is $38.24 and its 200 day moving average is $34.31.

Global-e Online (NASDAQ:GLBE – Get Free Report) last announced its earnings results on Tuesday, June 30th. The company reported $0.37 earnings per share for the quarter. The business had revenue of $299.00 million during the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. As a group, equities analysts predict that Global-e Online will post 1.23 earnings per share for the current year.

Insider Buying and Selling at Global-e Online

In other Global-e Online news, CEO Amir Schlachet sold 81,556 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $42.30, for a total value of $3,449,818.80. Following the sale, the chief executive officer owned 3,766,730 shares of the company’s stock, valued at $159,332,679. This trade represents a 2.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Nir Debbi sold 14,582 shares of Global-e Online stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $40.11, for a total value of $584,884.02. Following the completion of the transaction, the president owned 4,430,285 shares of the company’s stock, valued at $177,698,731.35. The trade was a 0.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 659,496 shares of company stock valued at $25,790,295 in the last quarter. Corporate insiders own 11.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its holdings in Global-e Online by 28.1% during the 2nd quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company’s stock worth $287,397,000 after purchasing an additional 1,816,606 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Global-e Online by 68.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock valued at $230,842,000 after buying an additional 2,387,242 shares in the last quarter. Contour Asset Management LLC increased its position in Global-e Online by 4.6% during the 4th quarter. Contour Asset Management LLC now owns 4,842,069 shares of the company’s stock worth $190,342,000 after buying an additional 211,034 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Global-e Online by 3,399.9% during the second quarter. California State Teachers Retirement System now owns 4,066,709 shares of the company’s stock worth $141,237,000 after buying an additional 3,950,515 shares in the last quarter. Finally, Arohi Asset Management PTE Ltd. lifted its holdings in shares of Global-e Online by 0.6% during the fourth quarter. Arohi Asset Management PTE Ltd. now owns 3,780,304 shares of the company’s stock worth $148,604,000 after buying an additional 23,213 shares in the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

About Global-e Online

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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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