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 rating of “Moderate Buy” from the fifteen analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $44.50.

GLBE has been the subject of several recent research reports. Truist Financial boosted their target price on shares of Global-e Online from $39.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Zacks Research cut shares of Global-e Online from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Morgan Stanley cut their price target on Global-e Online from $43.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Piper Sandler reissued an “overweight” rating and set a $48.00 price objective on shares of Global-e Online in a report on Wednesday. Finally, Wall Street Zen lowered Global-e Online from a “buy” rating to a “hold” rating in a report on Saturday, May 9th.

Global-e Online Trading Down 1.0%

GLBE opened at $39.87 on Friday. Global-e Online has a 1-year low of $26.84 and a 1-year high of $41.94. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 61.34 and a beta of 1.06. The company’s fifty day moving average price is $34.63 and its two-hundred day moving average price is $33.76.

Insider Activity at Global-e Online

In related news, CEO Amir Schlachet sold 58,331 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $36.21, for a total value of $2,112,165.51. Following the completion of the sale, the chief executive officer directly owned 4,141,727 shares of the company’s stock, valued at approximately $149,971,934.67. This represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Shahar Tamari sold 28,623 shares of the 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 directly owned 3,956,685 shares of the company’s stock, valued at $142,519,793.70. The trade was a 0.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 319,914 shares of company stock valued at $10,989,302 over the last 90 days. Insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On Global-e Online

A number of hedge funds have recently bought and sold shares of GLBE. Wasatch Advisors LP raised its holdings in shares of Global-e Online by 28.1% in the second quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company’s stock valued at $287,397,000 after purchasing an additional 1,816,606 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Global-e Online by 68.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock valued at $230,842,000 after purchasing an additional 2,387,242 shares in the last quarter. Contour Asset Management LLC boosted its holdings in Global-e Online by 4.6% during the fourth quarter. Contour Asset Management LLC now owns 4,842,069 shares of the company’s stock worth $190,342,000 after purchasing an additional 211,034 shares during the last quarter. Arohi Asset Management PTE Ltd. boosted its holdings in Global-e Online by 0.6% during the fourth quarter. Arohi Asset Management PTE Ltd. now owns 3,780,304 shares of the company’s stock worth $148,604,000 after purchasing an additional 23,213 shares during the last quarter. Finally, Brown Capital Management LLC grew its position in Global-e Online by 0.6% in the 4th quarter. Brown Capital Management LLC now owns 2,404,856 shares of the company’s stock worth $94,535,000 after purchasing an additional 15,014 shares in the last quarter. 94.60% of the stock is owned by hedge funds and other 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.