Global-e Online Ltd. (NASDAQ:GLBE) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Global-e Online Ltd. (NASDAQ:GLBE) has been given a consensus rating of “Moderate Buy” by the sixteen brokerages that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $48.00.

A number of equities research analysts recently commented on GLBE shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Global-e Online in a report on Wednesday, August 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $48.00 price target on shares of Global-e Online in a report on Wednesday, August 12th. Truist Financial raised their price target on shares of Global-e Online from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. UBS Group set a $54.00 price target on shares of Global-e Online and gave the stock a “buy” rating in a research report on Thursday, August 13th. Finally, Zacks Research cut shares of Global-e Online from a “strong-buy” rating to a “hold” rating in a research note on Monday.

Global-e Online Price Performance

NASDAQ GLBE opened at $40.23 on Friday. The stock’s fifty day moving average price is $39.43 and its 200 day moving average price is $35.56. Global-e Online has a 1 year low of $26.84 and a 1 year high of $43.99. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 46.78 and a beta of 0.98.

Global-e Online (NASDAQ:GLBE) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.37 earnings per share for the quarter. The business had revenue of $299.00 million for the quarter. Global-e Online had a return on equity of 16.70% and a net margin of 13.87%. Research analysts expect that Global-e Online will post 1.32 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Ofer Koren sold 50,000 shares of the business’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $41.23, for a total transaction of $2,061,500.00. Following the completion of the transaction, the chief financial officer directly owned 153,189 shares in the company, valued at $6,315,982.47. The trade was a 24.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Shahar Tamari sold 24,999 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $41.63, for a total transaction of $1,040,708.37. Following the completion of the sale, the chief operating officer directly owned 3,856,689 shares in the company, valued at approximately $160,553,963.07. The trade was a 0.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 658,319 shares of company stock valued at $26,838,705 over the last 90 days. Insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On Global-e Online

Several institutional investors and hedge funds have recently modified their holdings of the stock. MCF Advisors LLC grew its holdings in Global-e Online by 62.4% during the second quarter. MCF Advisors LLC now owns 1,437 shares of the company’s stock worth $50,000 after acquiring an additional 552 shares during the period. Seelaus Asset Management LLC acquired a new position in Global-e Online in the first quarter valued at approximately $231,000. Lombard Odier Asset Management USA Corp purchased a new stake in Global-e Online in the 1st quarter worth approximately $239,000. Hennion & Walsh Asset Management Inc. boosted its position in Global-e Online by 8.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 8,224 shares of the company’s stock worth $286,000 after purchasing an additional 631 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its position in Global-e Online by 5.0% in 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 in the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-e Online Company Profile

Global-e Online Ltd. is an Israel-based technology company that provides an end-to-end platform for cross-border e-commerce. Its software helps retailers and brands sell directly to consumers in international markets by adapting online shopping experiences to local languages, currencies, payment methods, tax requirements and delivery preferences.

The company’s services support the international customer journey, including localized storefronts and checkout experiences, calculation and collection of duties and taxes, payment processing, fraud prevention, international shipping, order management and returns.