Global-e Online (NASDAQ:GLBE) Given New $42.00 Price Target at Truist Financial

Global-e Online (NASDAQ:GLBE) had its target price decreased by Truist Financial from $43.00 to $42.00 in a research note published on Thursday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

GLBE has been the topic of a number of other reports. 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Global-e Online in a research note on Monday, December 29th. Needham & Company LLC increased their price objective on Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Benchmark boosted their target price on Global-e Online from $52.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Finally, Morgan Stanley restated an “overweight” rating on shares of Global-e Online in a research note on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Global-e Online currently has a consensus rating of “Moderate Buy” and an average price target of $47.80.

Global-e Online Stock Up 2.5%

GLBE opened at $35.96 on Thursday. Global-e Online has a 52 week low of $26.64 and a 52 week high of $44.20. The business has a fifty day simple moving average of $36.83 and a 200-day simple moving average of $36.22. The firm has a market cap of $6.10 billion, a P/E ratio of 97.19 and a beta of 1.24.

Hedge Funds Weigh In On Global-e Online

Institutional investors have recently added to or reduced their stakes in the company. Arohi Asset Management PTE Ltd. grew its stake in shares of 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 valued at $148,604,000 after acquiring an additional 23,213 shares in the last quarter. Vident Advisory LLC boosted its holdings in Global-e Online by 10.5% in the fourth quarter. Vident Advisory LLC now owns 14,866 shares of the company’s stock valued at $584,000 after purchasing an additional 1,413 shares during the last quarter. XTX Topco Ltd acquired a new stake in Global-e Online during the 4th quarter valued at approximately $689,000. Twinbeech Capital LP purchased a new stake in Global-e Online during the 4th quarter worth approximately $208,000. Finally, SRS Investment Management LLC raised its position in shares of Global-e Online by 203.4% in the 4th quarter. SRS Investment Management LLC now owns 896,717 shares of the company’s stock valued at $35,250,000 after purchasing an additional 601,168 shares in the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.

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.