Global-e Online (NASDAQ:GLBE) Upgraded to “Strong-Buy” at BMO Capital Markets

BMO Capital Markets upgraded shares of Global-e Online (NASDAQ:GLBE) to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

Other research analysts have also issued reports about the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Global-e Online in a report on Thursday, February 19th. Truist Financial dropped their target price on Global-e Online from $43.00 to $42.00 and set a “hold” rating for the company in a report on Thursday, February 26th. Wall Street Zen upgraded shares of Global-e Online from a “hold” rating to a “buy” rating in a research note on Sunday, March 29th. Benchmark upped their price target on shares of Global-e Online from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Finally, KeyCorp dropped their price objective on shares of 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. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $47.15.

Global-e Online Stock Up 1.1%

Shares of NASDAQ:GLBE opened at $32.85 on Tuesday. Global-e Online has a 12-month low of $27.80 and a 12-month high of $43.21. The business has a 50 day moving average of $33.00 and a 200-day moving average of $35.72. The stock has a market cap of $5.58 billion, a PE ratio of 88.78 and a beta of 1.28.

Insider Transactions at Global-e Online

In other news, COO Shahar Tamari sold 5,190 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $33.06, for a total transaction of $171,581.40. Following the sale, the chief operating officer directly owned 3,785,035 shares of the company’s stock, valued at approximately $125,133,257.10. This represents a 0.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Nir Debbi sold 7,191 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $34.67, for a total value of $249,311.97. Following the completion of the transaction, the president owned 4,294,867 shares in the company, valued at $148,903,038.89. The trade was a 0.17% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 138,543 shares of company stock valued at $4,647,696. 11.60% of the stock is owned by corporate insiders.

Institutional Trading of Global-e Online

Institutional investors and hedge funds have recently made changes to their positions in the company. IFP Advisors Inc increased 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 acquiring an additional 448 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Global-e Online in the 4th quarter valued at $39,000. Geneos Wealth Management Inc. boosted its holdings 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. Tower Research Capital LLC TRC increased 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 valued at $61,000 after purchasing an additional 1,616 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Global-e Online by 237.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company’s stock worth $72,000 after buying an additional 1,376 shares in the last quarter. Institutional investors own 94.60% of the company’s stock.

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.