Truist Financial Cuts Global-e Online (NASDAQ:GLBE) Price Target to $42.00

Global-e Online (NASDAQ:GLBE) had its price objective cut by Truist Financial from $43.00 to $42.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other brokerages also recently issued reports on GLBE. Piper Sandler reissued an “overweight” rating on shares of Global-e Online in a report on Thursday, February 19th. Bank of America reaffirmed a “buy” rating on shares of Global-e Online in a research report on Wednesday, February 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Global-e Online in a research note on Monday, December 29th. KeyCorp reduced their price target on shares of Global-e Online from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Finally, Zacks Research upgraded shares of Global-e Online from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.80.

Global-e Online Stock Down 2.8%

GLBE opened at $34.97 on Thursday. The company’s 50-day moving average price is $36.73 and its 200 day moving average price is $36.25. Global-e Online has a fifty-two week low of $26.64 and a fifty-two week high of $43.67. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 94.51 and a beta of 1.24.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of Global-e Online during the fourth quarter valued at about $39,000. IFP Advisors Inc grew its position in Global-e Online by 73.3% in the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after buying an additional 448 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Global-e Online by 67.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock valued at $47,000 after buying an additional 528 shares during the period. Virtus Advisers LLC bought a new stake in shares of Global-e Online during the 2nd quarter worth about $47,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Global-e Online by 780.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock worth $61,000 after acquiring an additional 1,616 shares during the period. Institutional investors own 94.60% of the company’s stock.

Global-e Online Company Profile

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.