Brokerages Set Global-e Online Ltd. (NASDAQ:GLBE) PT at $44.50

Global-e Online Ltd. (NASDAQ:GLBE) has been given a consensus recommendation of “Moderate Buy” by the fifteen research firms that are presently 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 given a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $44.50.

GLBE has been the subject of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $48.00 target price on shares of Global-e Online in a research note on Wednesday. Morgan Stanley dropped their price target on Global-e Online from $43.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Weiss Ratings cut Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. Truist Financial raised their price objective on shares of Global-e Online from $39.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, BMO Capital Markets initiated coverage on shares of Global-e Online in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $42.00 price objective for the company.

Insider Buying and Selling

In other Global-e Online news, CEO Amir Schlachet sold 58,331 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $36.21, for a total value of $2,112,165.51. Following the completion of the sale, the chief executive officer directly owned 4,141,727 shares in the company, valued at approximately $149,971,934.67. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Nir Debbi sold 9,233 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $33.70, for a total transaction of $311,152.10. Following the completion of the sale, the president owned 4,559,466 shares of the company’s stock, valued at $153,654,004.20. The trade was a 0.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 319,914 shares of company stock valued at $10,989,302 over the last ninety days. 11.60% of the stock is owned by corporate insiders.

Institutional Trading of Global-e Online

Several large investors have recently made changes to their positions in GLBE. IFP Advisors Inc raised its stake in Global-e Online by 73.3% during 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 during the period. 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. increased its holdings 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 acquiring an additional 528 shares in the last quarter. Tower Research Capital LLC TRC raised its position 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 period. Finally, Kestra Advisory Services LLC acquired a new position in shares of Global-e Online during the fourth quarter worth approximately $72,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-e Online Trading Down 1.4%

GLBE stock opened at $39.31 on Friday. The firm has a market cap of $6.67 billion, a PE ratio of 60.48 and a beta of 1.06. The stock has a 50-day moving average price of $34.82 and a 200-day moving average price of $33.80. Global-e Online has a 1-year low of $26.84 and a 1-year high of $41.94.

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.