Global-e Online Ltd. (NASDAQ:GLBE) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Global-e Online Ltd. (NASDAQ:GLBE) have earned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $47.90.

A number of research analysts have recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. Truist Financial set a $43.00 price target on Global-e Online in a report on Tuesday, January 20th. Benchmark lifted their price objective on Global-e Online from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Zacks Research upgraded Global-e Online from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 19th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Global-e Online in a research note on Thursday, February 19th.

Global-e Online Stock Up 2.3%

Shares of Global-e Online stock opened at $35.09 on Thursday. The stock has a 50 day moving average price of $36.93 and a two-hundred day moving average price of $36.22. The stock has a market capitalization of $5.96 billion, a P/E ratio of 94.84 and a beta of 1.24. Global-e Online has a 12-month low of $26.64 and a 12-month high of $44.97.

Institutional Trading of Global-e Online

Several hedge funds have recently modified their holdings of the company. Vitruvian Partners LLP grew its stake in shares of Global-e Online by 23.1% during the third quarter. Vitruvian Partners LLP now owns 172,442 shares of the company’s stock worth $6,167,000 after purchasing an additional 32,405 shares during the period. Penserra Capital Management LLC raised its position in Global-e Online by 16.1% during the third quarter. Penserra Capital Management LLC now owns 127,667 shares of the company’s stock worth $4,564,000 after acquiring an additional 17,676 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Global-e Online by 50.5% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 775,000 shares of the company’s stock valued at $27,714,000 after acquiring an additional 260,000 shares during the last quarter. Nordea Investment Management AB bought a new position in shares of Global-e Online in the 3rd quarter valued at about $7,838,000. Finally, Brown Capital Management LLC grew its position in shares of Global-e Online by 10.0% in the 3rd quarter. Brown Capital Management LLC now owns 2,389,842 shares of the company’s stock valued at $85,461,000 after acquiring an additional 216,304 shares during the period. 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.