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

Shares of Global-e Online Ltd. (NASDAQ:GLBE) have been given an average recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $44.3333.

Several research firms recently weighed in on GLBE. BMO Capital Markets began coverage on Global-e Online in a research report on Tuesday, April 21st. They set an “outperform” rating and a $42.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised shares of Global-e Online to an “accumulate” rating in a research note on Wednesday, May 27th. Jefferies Financial Group reiterated a “buy” rating and set a $40.00 price objective on shares of Global-e Online in a report on Wednesday, May 13th. Zacks Research cut shares of Global-e Online from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Finally, Morgan Stanley lowered their target price on shares of Global-e Online from $43.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, May 14th.

Insider Activity

In other news, COO Shahar Tamari sold 28,623 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $36.02, for a total transaction of $1,031,000.46. Following the completion of the sale, the chief operating officer directly owned 3,956,685 shares in the company, valued at $142,519,793.70. This represents a 0.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Amir Schlachet sold 16,666 shares of Global-e Online stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $32.18, for a total value of $536,311.88. Following the completion of the transaction, the chief executive officer owned 4,200,058 shares in the company, valued at $135,157,866.44. The trade was a 0.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 295,816 shares of company stock valued at $9,817,713 in the last ninety days. Company insiders own 11.60% of the company’s stock.

Institutional Trading of Global-e Online

A number of institutional investors have recently modified their holdings of the company. Wasatch Advisors LP increased its position in Global-e Online by 34.0% during the 1st quarter. Wasatch Advisors LP now owns 6,458,588 shares of the company’s stock worth $199,247,000 after purchasing an additional 1,637,482 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in 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 buying an additional 2,387,242 shares in the last quarter. Contour Asset Management LLC grew its stake in Global-e Online by 4.6% during the fourth quarter. Contour Asset Management LLC now owns 4,842,069 shares of the company’s stock worth $190,342,000 after buying an additional 211,034 shares during the period. Arohi Asset Management PTE Ltd. grew its stake in Global-e Online by 0.6% during the fourth quarter. Arohi Asset Management PTE Ltd. now owns 3,780,304 shares of the company’s stock worth $148,604,000 after buying an additional 23,213 shares during the period. Finally, Spyglass Capital Management LLC increased its position in shares of Global-e Online by 63.0% in the third quarter. Spyglass Capital Management LLC now owns 2,703,171 shares of the company’s stock worth $96,665,000 after acquiring an additional 1,044,960 shares in the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Global-e Online Stock Performance

Shares of NASDAQ GLBE opened at $34.73 on Wednesday. The firm has a market cap of $5.89 billion, a P/E ratio of 53.43 and a beta of 1.16. Global-e Online has a 1 year low of $26.84 and a 1 year high of $41.94. The firm’s 50 day moving average price is $31.63 and its 200 day moving average price is $34.09.

Global-e Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. Global-e Online had a return on equity of 12.64% and a net margin of 11.37%.The company had revenue of $252.09 million for the quarter, compared to analyst estimates of $250.78 million. During the same quarter in the prior year, the company posted ($0.11) EPS. The business’s revenue for the quarter was up 32.8% compared to the same quarter last year. As a group, equities analysts predict that Global-e Online will post 1.11 EPS for the current year.

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.