Global-e Online (NASDAQ:GLBE) Downgraded to Hold Rating by Zacks Research

Zacks Research downgraded shares of Global-e Online (NASDAQ:GLBE) from a strong-buy rating to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley cut their price target on shares of Global-e Online from $43.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Bank of America assumed coverage on shares of Global-e Online in a report on Tuesday, March 31st. They set a “buy” rating and a $43.00 price target on the stock. Raymond James Financial reiterated an “outperform” rating and set a $42.00 price target on shares of Global-e Online in a report on Wednesday, May 13th. Wall Street Zen cut shares of Global-e Online from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Benchmark restated a “buy” rating on shares of Global-e Online in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Global-e Online currently has a consensus rating of “Moderate Buy” and an average target price of $43.92.

Global-e Online Stock Performance

Shares of GLBE opened at $32.89 on Wednesday. The stock has a market cap of $5.58 billion, a PE ratio of 50.60 and a beta of 1.16. Global-e Online has a fifty-two week low of $26.84 and a fifty-two week high of $41.94. The firm’s 50-day simple moving average is $30.94 and its two-hundred day simple moving average is $34.80.

Global-e Online (NASDAQ:GLBE) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. The firm had revenue of $252.09 million for the quarter, compared to analysts’ expectations of $250.78 million. During the same quarter in the prior year, the company posted ($0.11) earnings per share. The business’s revenue for the quarter was up 32.8% on a year-over-year basis. Equities research analysts predict that Global-e Online will post 1.12 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Amir Schlachet sold 16,666 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $34.45, for a total transaction of $574,143.70. Following the sale, the chief executive officer directly owned 3,562,787 shares in the company, valued at $122,738,012.15. This trade represents a 0.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Shahar Tamari sold 25,949 shares of the firm’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $34.79, for a total transaction of $902,765.71. Following the sale, the chief operating officer owned 3,790,225 shares in the company, valued at $131,861,927.75. The trade was a 0.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 231,554 shares of company stock worth $7,645,702. Company insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On Global-e Online

Several institutional investors have recently bought and sold shares of GLBE. Caitong International Asset Management Co. Ltd purchased a new position in shares of Global-e Online in the 4th quarter worth $39,000. IFP Advisors Inc grew its stake in shares of Global-e Online by 73.3% in the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock worth $38,000 after buying an additional 448 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Global-e Online by 67.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after buying an additional 528 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Global-e Online by 780.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock worth $61,000 after buying an additional 1,616 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Global-e Online in the 4th quarter worth $72,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-e Online News Roundup

Here are the key news stories impacting Global-e Online this week:

• Positive Sentiment: Global-e’s board approved a new share repurchase program of up to $500 million, following completion of about 80% of its prior $200 million plan. This could support the stock by reducing share count and signaling confidence in future cash generation. Global-e Announces Board Authorization of $500 Million Share Repurchase Program
• Neutral Sentiment: The company noted that repurchases depend on regulatory approval in Israel, creditor objections, market conditions, liquidity, and other factors, so the buyback may not be executed as planned. Global-e Announces Board Authorization of $500 Million Share Repurchase Program
• Negative Sentiment: Recent insider selling from CEO Amir Schlachet, President Nir Debbi, and COO Shahar Tamari may weigh on sentiment, even though the sales were relatively small compared with their overall holdings. Insider sale filing

About Global-e Online

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.