Global-e Online (NASDAQ:GLBE) Price Target Raised to $51.00

Global-e Online (NASDAQ:GLBE) had its target price raised by BMO Capital Markets from $48.00 to $51.00 in a report released on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts have also recently weighed in on GLBE. Wall Street Zen raised shares of Global-e Online from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $48.00 price target on shares of Global-e Online in a report on Tuesday, August 11th. Raymond James Financial reaffirmed an “outperform” rating and set a $48.00 price objective on shares of Global-e Online in a research report on Thursday, August 13th. Citigroup reiterated a “market outperform” rating on shares of Global-e Online in a research note on Thursday, August 13th. Finally, Truist Financial lifted their target price on Global-e Online from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.83.

Global-e Online Stock Up 1.6%

NASDAQ:GLBE traded up $0.66 during trading hours on Thursday, reaching $41.71. 876,243 shares of the stock were exchanged, compared to its average volume of 1,324,843. The firm has a 50 day simple moving average of $40.17 and a 200-day simple moving average of $35.95. Global-e Online has a 52 week low of $26.84 and a 52 week high of $45.28. The stock has a market capitalization of $7.08 billion, a P/E ratio of 48.50 and a beta of 1.10.

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

Insider Activity

In other Global-e Online news, President Nir Debbi sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $44.59, for a total transaction of $4,459,000.00. Following the completion of the transaction, the president directly owned 4,242,793 shares of the company’s stock, valued at $189,186,139.87. The trade was a 2.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amir Schlachet sold 24,999 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $38.24, for a total transaction of $955,961.76. Following the completion of the transaction, the chief executive officer owned 3,716,732 shares of the company’s stock, valued at approximately $142,127,831.68. This trade represents a 0.67% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 544,197 shares of company stock worth $22,250,761. 11.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Global-e Online

Several hedge funds and other institutional investors have recently made changes to their positions in GLBE. Shannon River Fund Management LLC increased its position in Global-e Online by 78.8% in the 3rd quarter. Shannon River Fund Management LLC now owns 631,450 shares of the company’s stock valued at $25,088,000 after acquiring an additional 278,250 shares during the period. Advisors Asset Management Inc. acquired a new stake in Global-e Online in the third quarter worth about $147,000. Stephens Investment Management Group LLC grew its position in Global-e Online by 24.8% in the 3rd quarter. Stephens Investment Management Group LLC now owns 359,201 shares of the company’s stock valued at $14,271,000 after buying an additional 71,411 shares in the last quarter. Alberta Investment Management Corp bought a new position in Global-e Online in the 3rd quarter valued at about $7,596,000. Finally, Mawer Investment Management Ltd. grew its position in Global-e Online by 15.0% in the 3rd quarter. Mawer Investment Management Ltd. now owns 391,620 shares of the company’s stock valued at $15,559,000 after buying an additional 51,120 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

About Global-e Online

Global-e Online Ltd. provides a cross-border e-commerce platform that helps retailers and consumer brands sell to shoppers in international markets. Its services support the online shopping journey, from localized storefronts and checkout through payment and delivery. The platform helps merchants tailor the shopping experience to customers in different countries, including by supporting local currencies and payment options and managing international shipping, duties and taxes, and returns. Global-e serves businesses seeking to reach consumers across a range of global markets.