Global-e Online Ltd. (NASDAQ:GLBE) Given Average Rating of “Buy” by Analysts

Shares of Global-e Online Ltd. (NASDAQ:GLBE) have been assigned an average rating of “Buy” from the fifteen research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $47.1538.

Several brokerages recently weighed in on GLBE. Wall Street Zen raised Global-e Online from a “hold” rating to a “buy” rating in a report on Sunday, March 29th. BMO Capital Markets initiated coverage on Global-e Online in a research report on Tuesday. They issued an “outperform” rating and a $42.00 target price for the company. Benchmark boosted their price target on Global-e Online from $52.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Morgan Stanley reissued an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. Finally, UBS Group reduced their price objective on Global-e Online from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, March 31st.

Global-e Online Stock Performance

GLBE opened at $30.84 on Friday. The company has a market capitalization of $5.23 billion, a P/E ratio of 83.35 and a beta of 1.28. The company has a 50-day moving average of $32.97 and a 200-day moving average of $35.69. Global-e Online has a 1-year low of $27.80 and a 1-year high of $43.21.

Insiders Place Their Bets

In other news, COO Shahar Tamari sold 5,190 shares of the firm’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $33.06, for a total value of $171,581.40. Following the transaction, the chief operating officer directly owned 3,785,035 shares in the company, valued at approximately $125,133,257.10. This trade represents a 0.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Amir Schlachet sold 16,666 shares of Global-e Online stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $33.65, for a total transaction of $560,810.90. Following the completion of the transaction, the chief executive officer directly owned 3,984,550 shares of the company’s stock, valued at $134,080,107.50. This trade represents a 0.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 138,543 shares of company stock valued at $4,647,696. Company insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On Global-e Online

Institutional investors have recently made changes to their positions in the stock. Pictet Asset Management Holding SA raised its position in shares of Global-e Online by 5.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 28,002 shares of the company’s stock worth $864,000 after purchasing an additional 1,321 shares during the period. Wasatch Advisors LP boosted its position in Global-e Online by 34.0% during the 1st quarter. Wasatch Advisors LP now owns 6,458,588 shares of the company’s stock valued at $199,247,000 after purchasing an additional 1,637,482 shares during the period. Barton Investment Management grew its stake in Global-e Online by 0.8% during the 1st quarter. Barton Investment Management now owns 1,088,214 shares of the company’s stock worth $33,571,000 after buying an additional 8,960 shares during the last quarter. SG Americas Securities LLC grew its stake in Global-e Online by 6.4% during the 1st quarter. SG Americas Securities LLC now owns 1,365,092 shares of the company’s stock worth $42,113,000 after buying an additional 81,784 shares during the last quarter. Finally, Arohi Asset Management PTE Ltd. increased its position in Global-e Online by 0.6% in the fourth quarter. Arohi Asset Management PTE Ltd. now owns 3,780,304 shares of the company’s stock worth $148,604,000 after buying an additional 23,213 shares during the period. 94.60% of the stock is owned by institutional investors.

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.