Global-e Online (NASDAQ:GLBE) Stock Keeps “Overweight” Rating at Piper Sandler

Global-e Online (NASDAQ:GLBE)‘s stock had its “overweight” rating restated by investment analysts at Piper Sandler in a note issued to investors on Friday, Benzinga reports. They currently have a $52.00 price target on the stock. Piper Sandler‘s price target indicates a potential upside of 26.67% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on GLBE. Truist Financial upped their price target on shares of Global-e Online from $47.00 to $48.00 and gave the company a “buy” rating in a report on Friday, October 23rd. The Goldman Sachs Group reiterated a “buy” rating on shares of Global-e Online in a research note on Wednesday, August 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $48.00 price objective on shares of Global-e Online in a research note on Wednesday, August 12th. BMO Capital Markets boosted their price objective on Global-e Online from $48.00 to $51.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, UBS Group set a $54.00 target price on Global-e Online and gave the company a “buy” rating in a research note on Thursday, August 13th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.83.

Global-e Online Trading Down 2.7%

NASDAQ GLBE opened at $41.05 on Friday. Global-e Online has a 1 year low of $26.84 and a 1 year high of $45.28. The company has a fifty day simple moving average of $40.10 and a 200 day simple moving average of $35.93. The company has a market cap of $6.97 billion, a P/E ratio of 47.73 and a beta of 1.10.

Global-e Online (NASDAQ:GLBE) last announced its earnings results on Tuesday, June 30th. The company reported $0.37 EPS for the quarter. The firm had revenue of $299.00 million for the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. Equities research analysts forecast that Global-e Online will post 1.32 EPS for the current fiscal year.

Insider Transactions at Global-e Online

In related news, President Nir Debbi sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $44.59, for a total transaction of $4,459,000.00. Following the transaction, the president directly owned 4,242,793 shares in the company, valued at $189,186,139.87. The trade was a 2.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ofer Koren sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $41.23, for a total value of $2,061,500.00. Following the completion of the transaction, the chief financial officer directly owned 153,189 shares of the company’s stock, valued at approximately $6,315,982.47. This trade represents a 24.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 544,197 shares of company stock valued at $22,250,761. 11.60% of the stock is currently owned by insiders.

Institutional Trading of Global-e Online

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Global-e Online by 3,232.4% during the second quarter. Wellington Management Group LLP now owns 2,101,009 shares of the company’s stock valued at $72,968,000 after purchasing an additional 2,037,962 shares during the period. Wasatch Advisors LP lifted its position in Global-e Online by 28.1% in the second 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 period. Bienville Capital Management LLC bought a new position in Global-e Online in the second quarter worth $13,021,000. Renaissance Technologies LLC bought a new position in Global-e Online in the first quarter worth $8,512,000. Finally, Alberta Investment Management Corp acquired a new stake in Global-e Online during the third quarter worth $7,596,000. 94.60% of the stock is currently owned by institutional investors.

About Global-e Online

Global-e Online Ltd. provides a cross-border e-commerce platform that helps retailers and consumer brands sell to shoppers in international markets. Its services support the online shopping journey, from localized storefronts and checkout through payment and delivery. The platform helps merchants tailor the shopping experience to customers in different countries, including by supporting local currencies and payment options and managing international shipping, duties and taxes, and returns. Global-e serves businesses seeking to reach consumers across a range of global markets.