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

Global-e Online Ltd. (NASDAQ:GLBE) has been given an average recommendation of “Moderate Buy” by the fourteen analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $47.5833.

A number of brokerages have commented on GLBE. UBS Group lowered their target price on Global-e Online from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, March 31st. Wall Street Zen upgraded Global-e Online from a “hold” rating to a “buy” rating in a research report on Sunday, March 29th. Piper Sandler reaffirmed an “overweight” rating on shares of Global-e Online in a research note on Thursday, February 19th. KeyCorp dropped their price objective on Global-e Online from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Global-e Online in a research note on Thursday, February 19th.

Insider Activity

In other news, President Nir Debbi sold 8,332 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Shahar Tamari sold 16,666 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $33.81, for a total transaction of $563,477.46. Following the transaction, the chief operating officer directly owned 3,419,745 shares in the company, valued at $115,621,578.45. The trade was a 0.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 83,328 shares of company stock valued at $2,755,760 over the last 90 days. Insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On Global-e Online

Several hedge funds have recently made changes to their positions in GLBE. IFP Advisors Inc increased its stake in Global-e Online by 73.3% in the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after purchasing an additional 448 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Global-e Online in the 4th quarter worth about $39,000. Geneos Wealth Management Inc. boosted its stake in Global-e Online by 67.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after buying an additional 528 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Global-e Online by 780.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock valued at $61,000 after buying an additional 1,616 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in Global-e Online by 237.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company’s stock valued at $72,000 after buying an additional 1,376 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-e Online Price Performance

GLBE stock opened at $33.71 on Friday. The company’s 50 day simple moving average is $32.99 and its 200-day simple moving average is $35.81. Global-e Online has a 12 month low of $27.80 and a 12 month high of $43.21. The firm has a market capitalization of $5.72 billion, a PE ratio of 91.11 and a beta of 1.28.

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.