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

Global-e Online Ltd. (NASDAQ:GLBE) has been assigned an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $47.9091.

Several equities analysts recently issued reports on GLBE shares. Zacks Research upgraded Global-e Online to a “hold” rating in a research report on Friday, August 8th. The Goldman Sachs Group lifted their price target on shares of Global-e Online from $39.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of Global-e Online in a research report on Wednesday, October 8th. Finally, Benchmark restated a “buy” rating on shares of Global-e Online in a report on Monday.

Institutional Trading of Global-e Online

A number of institutional investors have recently modified their holdings of GLBE. Morningstar Investment Management LLC bought a new position in shares of Global-e Online during the third quarter worth about $941,000. Woodline Partners LP bought a new stake in Global-e Online in the 3rd quarter valued at approximately $416,000. Wasatch Advisors LP lifted its stake in Global-e Online by 0.6% in the 3rd quarter. Wasatch Advisors LP now owns 3,443,071 shares of the company’s stock valued at $123,124,000 after acquiring an additional 18,889 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Global-e Online by 6.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 76,519 shares of the company’s stock worth $2,736,000 after acquiring an additional 4,700 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Global-e Online by 8.4% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,785 shares of the company’s stock valued at $1,888,000 after purchasing an additional 4,103 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors.

Global-e Online Trading Down 1.0%

NASDAQ:GLBE opened at $35.13 on Tuesday. Global-e Online has a 1 year low of $26.64 and a 1 year high of $63.69. The stock has a 50-day moving average price of $35.62 and a two-hundred day moving average price of $34.22. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of -206.65, a PEG ratio of 1.89 and a beta of 1.25.

Global-e Online declared that its board has initiated a share buyback program on Thursday, September 4th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 3.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

About Global-e Online

Global-E Online Ltd., together with its subsidiaries, provides a platform to enable and accelerate direct-to-consumer cross-border e-commerce in Israel, the United Kingdom, the United States, and internationally. Its platform enables international shoppers to buy online and merchants to sell from, and to, worldwide.