Global-e Online (NASDAQ:GLBE) Rating Increased to Buy at Wall Street Zen

Global-e Online (NASDAQ:GLBE) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

Several other equities analysts have also recently commented on GLBE. Benchmark boosted their target price on shares of Global-e Online from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Piper Sandler reiterated an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. Weiss Ratings raised shares of Global-e Online from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday. KeyCorp lowered their price objective on shares of Global-e Online from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Finally, Needham & Company LLC upped their target price on Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.80.

Global-e Online Stock Down 6.4%

GLBE opened at $28.93 on Friday. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 78.19 and a beta of 1.24. Global-e Online has a twelve month low of $26.64 and a twelve month high of $43.21. The company has a 50-day simple moving average of $34.44 and a 200 day simple moving average of $36.33.

Insider Transactions at Global-e Online

In related news, CEO Amir Schlachet sold 16,666 shares of Global-e Online stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $34.45, for a total transaction of $574,143.70. Following the sale, the chief executive officer directly owned 3,562,787 shares of the company’s stock, valued at approximately $122,738,012.15. The trade was a 0.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Shahar Tamari sold 16,666 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $33.81, for a total transaction of $563,477.46. Following the transaction, the chief operating officer owned 3,419,745 shares of the company’s stock, valued at approximately $115,621,578.45. This represents a 0.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 41,664 shares of company stock valued at $1,425,158. 11.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Global-e Online

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLBE. Dragoneer Investment Group LLC boosted its position in Global-e Online by 18.2% in the third quarter. Dragoneer Investment Group LLC now owns 11,887,078 shares of the company’s stock valued at $425,082,000 after buying an additional 1,831,063 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Global-e Online by 68.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock worth $230,842,000 after buying an additional 2,387,242 shares in the last quarter. Contour Asset Management LLC lifted 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 valued at $190,342,000 after acquiring an additional 211,034 shares during the last quarter. Wasatch Advisors LP lifted its stake in shares of Global-e Online by 40.0% in the 4th quarter. Wasatch Advisors LP now owns 4,821,106 shares of the company’s stock valued at $189,518,000 after acquiring an additional 1,378,035 shares during the last quarter. Finally, Arohi Asset Management PTE Ltd. boosted its holdings in shares of Global-e Online by 0.6% during the 4th quarter. Arohi Asset Management PTE Ltd. now owns 3,780,304 shares of the company’s stock valued at $148,604,000 after acquiring an additional 23,213 shares in the last quarter. 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.