Global-e Online (NASDAQ:GLBE) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Global-e Online (NASDAQ:GLBE) to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Truist Financial lowered their price objective on shares of Global-e Online from $43.00 to $42.00 and set a “hold” rating for the company in a report on Thursday, February 26th. Piper Sandler reiterated an “overweight” rating on shares of Global-e Online in a report on Thursday, February 19th. KeyCorp decreased their price objective on Global-e Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Benchmark increased 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, Bank of America began coverage on shares of Global-e Online in a research report on Tuesday, March 31st. They set a “buy” rating and a $43.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $47.15.

Global-e Online Stock Performance

Shares of GLBE opened at $30.84 on Tuesday. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 83.35 and a beta of 1.28. Global-e Online has a fifty-two week low of $27.80 and a fifty-two week high of $43.21. The firm has a 50 day moving average price of $32.97 and a 200-day moving average price of $35.69.

Insider Activity

In related news, COO Shahar Tamari sold 25,949 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $34.79, for a total transaction of $902,765.71. Following the transaction, the chief operating officer owned 3,790,225 shares in the company, valued at $131,861,927.75. The trade was a 0.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amir Schlachet sold 16,666 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $34.45, for a total transaction of $574,143.70. Following the completion of the sale, the chief executive officer owned 3,562,787 shares of the company’s stock, valued at $122,738,012.15. This trade represents a 0.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 138,543 shares of company stock valued at $4,647,696. Company insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On Global-e Online

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Global-e Online during the 4th quarter valued at $39,000. IFP Advisors Inc increased its stake in shares of Global-e Online by 73.3% in the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock worth $38,000 after acquiring an additional 448 shares in the last quarter. Geneos Wealth Management Inc. lifted its position 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 valued at $47,000 after acquiring an additional 528 shares during the period. Tower Research Capital LLC TRC boosted its stake in Global-e Online by 780.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock worth $61,000 after acquiring an additional 1,616 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in Global-e Online during the fourth quarter worth about $72,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

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.