Global-e Online Ltd. (NASDAQ:GLBE) Given Average Recommendation of “Moderate Buy” by Brokerages

Global-e Online Ltd. (NASDAQ:GLBE) has received an average recommendation of “Moderate Buy” from the fifteen research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $44.3333.

Several research firms recently weighed in on GLBE. Truist Financial upgraded Global-e Online from a “hold” rating to a “buy” rating and boosted their target price for the stock from $34.00 to $39.00 in a research note on Wednesday. Weiss Ratings cut Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. Raymond James Financial restated an “outperform” rating and set a $42.00 target price on shares of Global-e Online in a research note on Wednesday, May 13th. Wall Street Zen cut Global-e Online from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, KeyCorp reduced their price objective on Global-e Online from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th.

Insider Buying and Selling at Global-e Online

In other Global-e Online news, COO Shahar Tamari sold 7,874 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $33.09, for a total value of $260,550.66. Following the completion of the sale, the chief operating officer owned 4,017,209 shares in the company, valued at approximately $132,929,445.81. The trade was a 0.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amir Schlachet sold 16,666 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $33.34, for a total value of $555,644.44. Following the completion of the sale, the chief executive officer owned 4,216,724 shares of the company’s stock, valued at approximately $140,585,578.16. This represents a 0.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 248,220 shares of company stock worth $8,183,640. 11.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Global-e Online

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLBE. IFP Advisors Inc lifted its stake in Global-e Online by 73.3% in the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after buying an additional 448 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Global-e Online during the fourth quarter worth approximately $39,000. Geneos Wealth Management Inc. raised 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 worth $47,000 after purchasing an additional 528 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Global-e Online by 780.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock worth $61,000 after purchasing an additional 1,616 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Global-e Online by 237.7% during the third quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company’s stock worth $72,000 after purchasing an additional 1,376 shares during the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Global-e Online Stock Up 1.1%

GLBE stock opened at $32.73 on Friday. The business has a 50 day moving average price of $31.11 and a 200 day moving average price of $34.70. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 50.35 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.

Global-e Online (NASDAQ:GLBE) last posted its earnings results on Wednesday, May 13th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.09. The firm had revenue of $252.09 million during the quarter, compared to analysts’ expectations of $250.78 million. Global-e Online had a return on equity of 12.64% and a net margin of 11.37%.The firm’s revenue was up 32.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.11) earnings per share. As a group, sell-side analysts anticipate that Global-e Online will post 1.12 EPS for the current year.

Global-e Online Company Profile

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.