Global-e Online (NASDAQ:GLBE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Global-e Online (NASDAQ:GLBE) from a hold rating to a buy rating in a research report sent to investors on Sunday.

GLBE has been the subject of several other reports. Bank of America reaffirmed a “buy” rating on shares of Global-e Online in a research note on Wednesday, February 18th. Piper Sandler reissued an “overweight” rating on shares of Global-e Online in a research note on Thursday, February 19th. Truist Financial decreased their price objective on Global-e Online from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Thursday, February 26th. Benchmark lifted their price objective on Global-e Online from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Finally, Needham & Company LLC upped their target price on Global-e Online from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Global-e Online currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.58.

Global-e Online Price Performance

Global-e Online stock opened at $30.85 on Friday. The stock has a market capitalization of $5.24 billion, a P/E ratio of 83.38 and a beta of 1.24. Global-e Online has a 12-month low of $26.64 and a 12-month high of $43.21. The firm’s 50-day moving average is $34.16 and its two-hundred day moving average is $36.24.

Insider Activity at Global-e Online

In other news, President Nir Debbi sold 8,332 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $34.51, for a total value of $287,537.32. Following the completion of the sale, the president owned 3,897,506 shares in the company, valued at approximately $134,502,932.06. This trade represents a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Shahar Tamari sold 16,666 shares of Global-e Online stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $33.81, for a total transaction of $563,477.46. Following the sale, the chief operating officer owned 3,419,745 shares in the company, valued at $115,621,578.45. This represents a 0.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 41,664 shares of company stock worth $1,425,158. 11.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Global-e Online

Several large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new position in Global-e Online in the fourth quarter valued at about $39,000. IFP Advisors Inc increased its holdings 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 purchasing an additional 448 shares during the last quarter. Geneos Wealth Management Inc. raised its position 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 valued at $47,000 after purchasing an additional 528 shares in the last quarter. Virtus Advisers LLC acquired a new position in shares of Global-e Online in the 2nd quarter valued at approximately $47,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Global-e Online by 780.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock valued at $61,000 after buying an additional 1,616 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

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.