Global-e Online (NASDAQ:GLBE) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Global-e Online (NASDAQ:GLBE) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports.

Several other analysts have also recently weighed in on the company. Wall Street Zen raised Global-e Online from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Citigroup reaffirmed a “market outperform” rating on shares of Global-e Online in a report on Thursday, August 13th. Jefferies Financial Group reiterated a “buy” rating and set a $48.00 price objective on shares of Global-e Online in a research report on Wednesday, August 12th. Raymond James Financial reissued an “outperform” rating and set a $48.00 target price on shares of Global-e Online in a report on Thursday, August 13th. Finally, Truist Financial boosted their target price on shares of Global-e Online from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.69.

Global-e Online Stock Down 0.8%

Global-e Online stock opened at $39.13 on Tuesday. The stock has a market cap of $6.64 billion, a P/E ratio of 45.50 and a beta of 1.03. Global-e Online has a twelve month low of $26.84 and a twelve month high of $43.99. The company’s 50-day moving average price is $38.11 and its two-hundred day moving average price is $34.26.

Global-e Online (NASDAQ:GLBE) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $0.37 earnings per share (EPS) for the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. The firm had revenue of $299.00 million during the quarter. Equities analysts anticipate that Global-e Online will post 1.23 earnings per share for the current fiscal year.

Insider Activity

In other Global-e Online news, COO Shahar Tamari sold 24,999 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $41.63, for a total transaction of $1,040,708.37. Following the transaction, the chief operating officer owned 3,856,689 shares in the company, valued at $160,553,963.07. This trade represents a 0.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amir Schlachet sold 81,556 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $42.30, for a total value of $3,449,818.80. Following the sale, the chief executive officer directly owned 3,766,730 shares in the company, valued at approximately $159,332,679. This trade represents a 2.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 659,496 shares of company stock worth $25,790,295. Corporate insiders own 11.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GLBE. Caitong International Asset Management Co. Ltd acquired a new stake in Global-e Online during the fourth quarter worth about $39,000. IFP Advisors Inc raised its position in shares of Global-e Online by 73.3% in the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after buying an additional 448 shares in the last quarter. Geneos Wealth Management Inc. raised its position 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 buying an additional 528 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Global-e Online by 780.7% during 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 bought a new stake in shares of Global-e Online during the 4th quarter worth approximately $72,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

About Global-e Online

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.