Global-e Online Ltd. (NASDAQ:GLBE) Given Average Rating of “Moderate Buy” by Analysts

Shares of Global-e Online Ltd. (NASDAQ:GLBE) have earned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $43.9167.

Several equities research analysts recently issued reports on GLBE shares. Benchmark restated a “buy” rating on shares of Global-e Online in a research report on Wednesday, May 27th. Bank of America started coverage on shares of Global-e Online in a research report on Tuesday, March 31st. They set a “buy” rating and a $43.00 price objective for the company. Zacks Research cut shares of Global-e Online from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets started coverage on shares of Global-e Online in a research report on Tuesday, April 21st. They set an “outperform” rating and a $42.00 price objective for the company. Finally, Truist Financial cut their price objective on shares of Global-e Online from $37.00 to $34.00 and set a “hold” rating for the company in a research report on Wednesday, May 27th.

Insider Buying and Selling

In related news, CEO Amir Schlachet sold 16,666 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $33.34, for a total transaction of $555,644.44. Following the completion of the sale, the chief executive officer directly owned 4,216,724 shares in the company, valued at approximately $140,585,578.16. This trade represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Nir Debbi sold 9,233 shares of Global-e Online stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $33.70, for a total transaction of $311,152.10. Following the sale, the president owned 4,559,466 shares of the company’s stock, valued at approximately $153,654,004.20. This represents a 0.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 231,554 shares of company stock worth $7,645,702. Insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On Global-e Online

A number of institutional investors have recently made changes to their positions in GLBE. Wasatch Advisors LP increased its position in shares of Global-e Online by 231.8% during the second quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company’s stock valued at $114,847,000 after acquiring an additional 2,392,124 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position 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 valued at $230,842,000 after acquiring an additional 2,387,242 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Global-e Online by 1,539.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,269,482 shares of the company’s stock valued at $89,213,000 after acquiring an additional 2,131,047 shares during the last quarter. Arohi Asset Management PTE Ltd. increased its position in shares of Global-e Online by 91.0% during the second quarter. Arohi Asset Management PTE Ltd. now owns 2,822,884 shares of the company’s stock valued at $94,680,000 after acquiring an additional 1,345,156 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Global-e Online during the fourth quarter valued at about $51,104,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-e Online Trading Down 2.3%

NASDAQ:GLBE opened at $32.13 on Friday. Global-e Online has a twelve month low of $26.84 and a twelve month high of $41.94. The company has a market cap of $5.45 billion, a P/E ratio of 49.43 and a beta of 1.16. The company’s 50-day moving average price is $30.94 and its 200-day moving average price is $34.78.

Global-e Online (NASDAQ:GLBE) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.09. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. The firm had revenue of $252.09 million during the quarter, compared to analysts’ expectations of $250.78 million. During the same period last year, the business earned ($0.11) earnings per share. Global-e Online’s revenue was up 32.8% compared to the same quarter last year. On average, analysts expect that Global-e Online will post 1.12 earnings per share for the current year.

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.