Bank of America Begins Coverage on Global-e Online (NASDAQ:GLBE)

Equities researchers at Bank of America started coverage on shares of Global-e Online (NASDAQ:GLBE) in a research report issued on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $43.00 price target on the stock. Bank of America‘s target price would suggest a potential upside of 38.44% from the stock’s previous close.

Several other research firms also recently commented on GLBE. Benchmark upped their price objective on shares of Global-e Online from $52.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Morgan Stanley reissued an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. Zacks Research upgraded shares of Global-e Online from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 19th. Needham & Company LLC raised their price objective on shares of Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Finally, KeyCorp cut 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 report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $47.58.

Global-e Online Stock Performance

GLBE stock opened at $31.06 on Tuesday. The stock has a fifty day moving average of $34.05 and a 200-day moving average of $36.20. Global-e Online has a fifty-two week low of $26.64 and a fifty-two week high of $43.21. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 83.95 and a beta of 1.28.

Insider Buying and Selling

In other Global-e Online news, CEO Amir Schlachet sold 16,666 shares of Global-e Online stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $34.45, for a total transaction of $574,143.70. Following the completion of the transaction, the chief executive officer owned 3,562,787 shares of the company’s stock, valued at $122,738,012.15. The trade was a 0.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Nir Debbi sold 8,332 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $34.51, for a total value of $287,537.32. Following the sale, the president owned 3,897,506 shares in the company, valued at approximately $134,502,932.06. This represents a 0.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 41,664 shares of company stock valued at $1,425,158. Corporate insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On Global-e Online

A number of large investors have recently modified their holdings of the company. Wasatch Advisors LP increased its holdings in Global-e Online by 231.8% during the 2nd quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company’s stock worth $114,847,000 after acquiring an additional 2,392,124 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Global-e Online by 68.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock valued at $230,842,000 after purchasing an additional 2,387,242 shares during the period. Marshall Wace LLP boosted its holdings in Global-e Online by 182.0% in the 2nd quarter. Marshall Wace LLP now owns 3,656,115 shares of the company’s stock valued at $122,626,000 after purchasing an additional 2,359,435 shares during the period. Janus Henderson Group PLC grew its position in shares of Global-e Online by 1,539.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,269,482 shares of the company’s stock valued at $89,213,000 after purchasing an additional 2,131,047 shares in the last quarter. Finally, Dragoneer Investment Group LLC grew its position in shares of Global-e Online by 18.2% during the 3rd quarter. Dragoneer Investment Group LLC now owns 11,887,078 shares of the company’s stock valued at $425,082,000 after purchasing an additional 1,831,063 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors.

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.