Analysts Set Global-e Online Ltd. (NASDAQ:GLBE) Target Price at $47.69

Shares of Global-e Online Ltd. (NASDAQ:GLBE) have been assigned an average rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $47.6923.

Several brokerages recently weighed in on GLBE. BMO Capital Markets raised their target price on Global-e Online from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. Piper Sandler reiterated an “overweight” rating and issued a $48.00 price target on shares of Global-e Online in a research report on Tuesday, August 11th. Citigroup reissued a “market outperform” rating on shares of Global-e Online in a report on Thursday, August 13th. Wall Street Zen upgraded shares of Global-e Online from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Global-e Online in a research note on Tuesday, September 1st.

Insider Buying and Selling at Global-e Online

In other Global-e Online news, COO Shahar Tamari sold 24,999 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $38.41, for a total value of $960,211.59. Following the transaction, the chief operating officer owned 3,831,690 shares of the company’s stock, valued at approximately $147,175,212.90. This represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ofer Koren sold 12,500 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $36.68, for a total value of $458,500.00. Following the sale, the chief financial officer owned 153,189 shares of the company’s stock, valued at $5,618,972.52. This trade represents a 7.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 633,676 shares of company stock valued at $25,306,763. 11.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Global-e Online

Institutional investors and hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP boosted its position in shares of Global-e Online by 28.1% in the 2nd 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 period. Contour Asset Management LLC increased its stake in Global-e Online by 4.6% in the 4th 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 in the last quarter. Janus Henderson Group PLC raised its holdings in Global-e Online by 4.0% during the 1st quarter. Janus Henderson Group PLC now owns 2,360,866 shares of the company’s stock worth $72,833,000 after buying an additional 91,384 shares during the period. Wellington Management Group LLP raised its holdings in Global-e Online by 3,232.4% during the 2nd quarter. Wellington Management Group LLP now owns 2,101,009 shares of the company’s stock worth $72,968,000 after buying an additional 2,037,962 shares during the period. Finally, Spyglass Capital Management LLC raised its holdings in Global-e Online by 1.1% during the 2nd quarter. Spyglass Capital Management LLC now owns 1,958,379 shares of the company’s stock worth $68,015,000 after buying an additional 20,610 shares during the period. 94.60% of the stock is owned by institutional investors and hedge funds.

Global-e Online Price Performance

GLBE opened at $36.93 on Monday. The business has a 50 day moving average price of $38.93 and a two-hundred day moving average price of $34.69. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 42.94 and a beta of 1.00. Global-e Online has a 1-year low of $26.84 and a 1-year high of $43.99.

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

Global-e Online Company Profile

Global-e Online Ltd. (NASDAQ: GLBE) provides a software platform that enables merchants and brands to sell products internationally through localized e-commerce experiences. Its technology is designed to help businesses manage the operational and regulatory complexities of cross-border online commerce while presenting shoppers with familiar purchasing experiences in their local markets.

The company’s services include localized websites and checkout experiences, support for multiple currencies and payment methods, international shipping options, calculation and collection of duties and taxes, fraud prevention, returns management, and analytics.