Global-e Online (NASDAQ:GLBE) Raised to “Buy” at Wall Street Zen

Global-e Online (NASDAQ:GLBE) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday.

GLBE has been the topic of a number of other research reports. Needham & Company LLC upped their price target on shares of Global-e Online from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Morgan Stanley restated an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. Truist Financial reduced their price objective on Global-e Online from $43.00 to $42.00 and set a “hold” rating for the company in a report on Thursday, February 26th. Zacks Research raised Global-e Online from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 19th. Finally, Weiss Ratings upgraded Global-e Online from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.80.

Global-e Online Price Performance

Shares of GLBE opened at $28.93 on Friday. The firm has a market capitalization of $4.91 billion, a PE ratio of 78.19 and a beta of 1.24. The company’s 50-day moving average is $34.44 and its 200-day moving average is $36.33. Global-e Online has a fifty-two week low of $26.64 and a fifty-two week high of $43.21.

Insider Buying and Selling

In other Global-e Online news, President Nir Debbi sold 8,332 shares of the business’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 completion of the sale, the president owned 3,897,506 shares of the company’s stock, valued at $134,502,932.06. The trade was a 0.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Amir Schlachet sold 16,666 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $34.45, for a total transaction of $574,143.70. Following the transaction, the chief executive officer owned 3,562,787 shares in the company, valued at approximately $122,738,012.15. The trade was a 0.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 41,664 shares of company stock valued at $1,425,158. 11.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GLBE. Royal Bank of Canada boosted its stake in shares of Global-e Online by 87.4% in the first quarter. Royal Bank of Canada now owns 75,286 shares of the company’s stock valued at $2,684,000 after buying an additional 35,120 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Global-e Online by 17.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,654 shares of the company’s stock worth $1,948,000 after acquiring an additional 8,239 shares during the period. Geneos Wealth Management Inc. increased its stake in Global-e Online by 67.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after acquiring an additional 528 shares during the period. Russell Investments Group Ltd. raised its holdings in Global-e Online by 16.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 89,490 shares of the company’s stock valued at $3,002,000 after acquiring an additional 12,392 shares in the last quarter. Finally, Scotia Capital Inc. acquired a new position in Global-e Online in the 2nd quarter valued at $335,000. 94.60% of the stock is owned by institutional investors.

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.