Global-e Online (NASDAQ:GLBE) Price Target Raised to $41.00 at Truist Financial

Global-e Online (NASDAQ:GLBE) had its target price lifted by Truist Financial from $39.00 to $41.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on GLBE. Morgan Stanley decreased their price target on Global-e Online from $43.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. UBS Group reduced 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. Needham & Company LLC reissued a “buy” rating on shares of Global-e Online in a research report on Wednesday, May 27th. Weiss Ratings lowered shares of Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Global-e Online to an “accumulate” rating in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Global-e Online Stock Up 5.0%

Shares of Global-e Online stock opened at $36.21 on Friday. Global-e Online has a twelve month low of $26.84 and a twelve month high of $41.94. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 55.71 and a beta of 1.06. The company’s fifty day moving average is $33.85 and its 200 day moving average is $33.81.

Insider Buying and Selling at Global-e Online

In related news, COO Shahar Tamari sold 24,999 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $36.81, for a total value of $920,213.19. Following the sale, the chief operating officer directly owned 3,931,686 shares of the company’s stock, valued at $144,725,361.66. This trade represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Nir Debbi sold 8,332 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $35.82, for a total transaction of $298,452.24. Following the completion of the sale, the president directly owned 4,534,449 shares in the company, valued at $162,423,963.18. This represents a 0.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 319,914 shares of company stock valued at $10,989,302 in the last 90 days. Corporate insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On Global-e Online

A number of institutional investors have recently made changes to their positions in GLBE. IFP Advisors Inc grew its position in Global-e Online by 73.3% in the third 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. Caitong International Asset Management Co. Ltd bought a new position in shares of Global-e Online during the 4th quarter valued at about $39,000. Geneos Wealth Management Inc. increased its position in shares of 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 purchasing an additional 528 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Global-e Online by 780.7% during 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 in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Global-e Online during the 4th quarter valued at about $72,000. Institutional investors 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.