Global-e Online (NASDAQ:GLBE) Rating Lowered to “Hold” at Wall Street Zen

Global-e Online (NASDAQ:GLBE) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

A number of other research analysts have also recently commented on GLBE. Benchmark increased 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 report on Thursday, February 19th. BMO Capital Markets began 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. Morgan Stanley reaffirmed an “overweight” rating on shares of Global-e Online in a report on Thursday, February 19th. Truist Financial decreased their target price on shares of Global-e Online from $42.00 to $37.00 and set a “hold” rating on the stock in a research report on Friday, April 24th. Finally, Bank of America started coverage on shares of Global-e Online in a research note on Tuesday, March 31st. They issued a “buy” rating and a $43.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.77.

Global-e Online Stock Performance

Shares of NASDAQ GLBE opened at $29.80 on Friday. The stock’s 50-day moving average is $32.66 and its 200 day moving average is $35.57. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 80.54 and a beta of 1.18. Global-e Online has a 1-year low of $27.80 and a 1-year high of $43.21.

Insider Activity

In other news, CEO Amir Schlachet sold 1,022 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $31.27, for a total value of $31,957.94. Following the transaction, the chief executive officer owned 3,974,078 shares in the company, valued at approximately $124,269,419.06. This trade represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Nir Debbi sold 4,166 shares of Global-e Online stock in a transaction on Monday, May 4th. The stock was sold at an average price of $32.57, for a total transaction of $135,686.62. Following the completion of the transaction, the president directly owned 4,290,693 shares in the company, valued at approximately $139,747,871.01. The trade was a 0.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 153,181 shares of company stock valued at $5,114,716. 11.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Global-e Online

A number of hedge funds have recently modified their holdings of GLBE. Hsbc Holdings PLC purchased a new stake in shares of Global-e Online during the first quarter worth about $3,175,000. Seelaus Asset Management LLC purchased a new position in Global-e Online during the 1st quarter valued at about $231,000. Bronte Capital Management Pty Ltd. purchased a new position in Global-e Online during the 1st quarter valued at about $6,574,000. Pictet Asset Management Holding SA raised its position in 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 valued at $864,000 after purchasing an additional 1,321 shares during the last quarter. Finally, Wasatch Advisors LP raised 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 last quarter. Hedge funds and other 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.