Global-e Online (NASDAQ:GLBE) Stock Rating Cut to Hold at Zacks Research

Global-e Online (NASDAQ:GLBE) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday, Zacks reports.

A number of other research analysts also recently issued reports on the stock. Loop Capital set a $49.00 price objective on shares of Global-e Online in a research report on Wednesday, August 12th. Morgan Stanley raised their target price on shares of Global-e Online from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Citigroup reaffirmed a “market outperform” rating on shares of Global-e Online in a research note on Thursday, August 13th. Wall Street Zen raised shares of Global-e Online from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings upgraded shares of Global-e Online from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Global-e Online has a consensus rating of “Moderate Buy” and an average price target of $48.00.

Global-e Online Stock Performance

NASDAQ GLBE opened at $39.00 on Monday. Global-e Online has a fifty-two week low of $26.84 and a fifty-two week high of $43.99. The stock has a 50 day simple moving average of $39.51 and a two-hundred day simple moving average of $35.43. The stock has a market cap of $6.62 billion, a P/E ratio of 45.35 and a beta of 0.98.

Global-e Online (NASDAQ:GLBE) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $0.37 earnings per share for the quarter. The firm 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%. Sell-side analysts predict that Global-e Online will post 1.32 earnings per share for the current year.

Insider Transactions at Global-e Online

In other news, CEO Amir Schlachet sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $42.20, for a total value of $4,220,000.00. Following the completion of the transaction, the chief executive officer owned 3,965,422 shares in the company, valued at $167,340,808.40. This trade represents a 2.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Shahar Tamari sold 24,999 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $41.63, for a total value of $1,040,708.37. Following the completion of the transaction, the chief operating officer owned 3,856,689 shares of the company’s stock, valued at approximately $160,553,963.07. The trade was a 0.64% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 658,319 shares of company stock valued at $26,838,705. Corporate insiders own 11.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. 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 worth $287,397,000 after purchasing an additional 1,816,606 shares in the last quarter. Contour Asset Management LLC grew its stake in shares of 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 buying an additional 211,034 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Global-e Online by 4.0% in 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 last quarter. Wellington Management Group LLP grew its stake in shares of Global-e Online by 3,232.4% in 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 last quarter. Finally, Spyglass Capital Management LLC increased its position 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 valued at $68,015,000 after buying an additional 20,610 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors.

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.