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

Global-e Online Ltd. (NASDAQ:GLBE) has been given an average rating of “Moderate Buy” by the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, twelve have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $44.50.

Several equities research analysts recently issued reports on the company. BMO Capital Markets started coverage on Global-e Online in a research report on Tuesday, April 21st. They set an “outperform” rating and a $42.00 price target on the stock. Benchmark reaffirmed a “buy” rating on shares of Global-e Online in a report on Wednesday, May 27th. Needham & Company LLC reiterated a “buy” rating on shares of Global-e Online in a research note on Wednesday, May 27th. Truist Financial increased their target price on shares of Global-e Online from $39.00 to $41.00 and gave the stock a “buy” rating in a report on Friday. Finally, Raymond James Financial restated an “outperform” rating and issued a $42.00 price target on shares of Global-e Online in a research report on Wednesday, May 13th.

Insider Activity at Global-e Online

In other Global-e Online news, COO Shahar Tamari sold 24,999 shares of Global-e Online stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $36.81, for a total value of $920,213.19. Following the completion of the transaction, the chief operating officer directly owned 3,931,686 shares in the company, valued at $144,725,361.66. The trade was a 0.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amir Schlachet sold 24,999 shares of Global-e Online stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $37.09, for a total value of $927,212.91. Following the completion of the transaction, the chief executive officer owned 4,116,728 shares of the company’s stock, valued at approximately $152,689,441.52. The trade was a 0.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 319,914 shares of company stock valued at $10,989,302 in the last quarter. Insiders own 11.60% of the company’s stock.

Institutional Trading of Global-e Online

Several hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP grew its position in shares of Global-e Online by 231.8% during the second quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company’s stock worth $114,847,000 after acquiring an additional 2,392,124 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Global-e Online by 68.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock valued at $230,842,000 after purchasing an additional 2,387,242 shares during the last quarter. Janus Henderson Group PLC lifted its position in Global-e Online by 1,539.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,269,482 shares of the company’s stock valued at $89,213,000 after purchasing an additional 2,131,047 shares during the last quarter. Arohi Asset Management PTE Ltd. boosted its stake in Global-e Online by 91.0% during the 2nd quarter. Arohi Asset Management PTE Ltd. now owns 2,822,884 shares of the company’s stock valued at $94,680,000 after purchasing an additional 1,345,156 shares during the period. Finally, Norges Bank acquired a new position in Global-e Online during the 4th quarter valued at about $51,104,000. Institutional investors own 94.60% of the company’s stock.

Global-e Online Trading Up 5.0%

Shares of GLBE opened at $36.21 on Friday. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of 55.71 and a beta of 1.06. The stock has a 50 day moving average of $33.85 and a 200-day moving average of $33.81. Global-e Online has a 52 week low of $26.84 and a 52 week high of $41.94.

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.