Global-e Online Ltd. (NASDAQ:GLBE) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Global-e Online Ltd. (NASDAQ:GLBE) have been assigned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $47.2308.

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Global-e Online to an “accumulate” rating in a research note on Wednesday, May 27th. Loop Capital set a $49.00 target price on Global-e Online in a research note on Wednesday, August 12th. Citigroup restated a “market outperform” rating on shares of Global-e Online in a report on Thursday, August 13th. Benchmark reissued a “buy” rating on shares of Global-e Online in a research note on Thursday, August 13th. Finally, Truist Financial lifted their price target on shares of Global-e Online from $39.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, July 24th.

Global-e Online Stock Performance

Shares of Global-e Online stock opened at $39.86 on Thursday. Global-e Online has a one year low of $26.84 and a one year high of $43.99. The company has a market capitalization of $6.77 billion, a PE ratio of 46.35 and a beta of 1.03. The company has a 50-day simple moving average of $37.82 and a two-hundred day simple moving average of $34.17.

Global-e Online (NASDAQ:GLBE) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $0.37 EPS for the quarter. The firm had revenue of $299.00 million during the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. On average, equities analysts predict that Global-e Online will post 1.13 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Shahar Tamari sold 28,623 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $36.02, for a total value of $1,031,000.46. Following the completion of the sale, the chief operating officer owned 3,956,685 shares in the company, valued at $142,519,793.70. This represents a 0.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amir Schlachet sold 100,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $42.20, for a total value of $4,220,000.00. Following the completion of the transaction, the chief executive officer owned 3,965,422 shares in the company, valued at $167,340,808.40. This trade represents a 2.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 659,496 shares of company stock worth $25,790,295. Corporate insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On Global-e Online

A number of large investors have recently bought and sold shares of GLBE. IFP Advisors Inc raised its position in Global-e Online by 73.3% in the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock worth $38,000 after acquiring an additional 448 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Global-e Online in the 4th quarter valued at approximately $39,000. Geneos Wealth Management Inc. boosted its stake in shares of Global-e Online by 67.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after purchasing an additional 528 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in 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 worth $61,000 after acquiring an additional 1,616 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Global-e Online in the fourth quarter valued at $72,000. 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.