Global-e Online (NASDAQ:GLBE) Price Target Cut to $50.00 by Analysts at UBS Group

Global-e Online (NASDAQ:GLBE) had its price target lowered by UBS Group from $52.00 to $50.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on GLBE. Piper Sandler restated an “overweight” rating on shares of Global-e Online in a report on Thursday, February 19th. Wall Street Zen raised Global-e Online from a “hold” rating to a “buy” rating in a research note on Sunday. Zacks Research upgraded shares of Global-e Online from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 19th. Morgan Stanley reissued an “overweight” rating on shares of Global-e Online in a research note on Thursday, February 19th. Finally, KeyCorp decreased their price objective on shares of Global-e Online from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $47.58.

Global-e Online Stock Up 7.7%

NASDAQ:GLBE opened at $30.85 on Tuesday. Global-e Online has a 12-month low of $26.64 and a 12-month high of $43.21. The stock’s fifty day simple moving average is $34.16 and its 200-day simple moving average is $36.24. The firm has a market capitalization of $5.24 billion, a P/E ratio of 83.38 and a beta of 1.24.

Insider Buying and Selling at Global-e Online

In other news, CEO Amir Schlachet sold 16,666 shares of the stock in a transaction on Tuesday, March 17th. The shares were 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 represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Shahar Tamari sold 16,666 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $33.81, for a total transaction of $563,477.46. Following the sale, the chief operating officer owned 3,419,745 shares in the company, valued at approximately $115,621,578.45. The trade was a 0.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 41,664 shares of company stock valued at $1,425,158. 11.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Global-e Online

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLBE. Vitruvian Partners LLP raised its position in shares of Global-e Online by 23.1% in the third quarter. Vitruvian Partners LLP now owns 172,442 shares of the company’s stock valued at $6,167,000 after purchasing an additional 32,405 shares during the period. Penserra Capital Management LLC boosted its holdings in shares of Global-e Online by 16.1% during the 3rd quarter. Penserra Capital Management LLC now owns 127,667 shares of the company’s stock worth $4,564,000 after buying an additional 17,676 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its stake in Global-e Online by 50.5% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 775,000 shares of the company’s stock valued at $27,714,000 after buying an additional 260,000 shares during the last quarter. Nordea Investment Management AB acquired a new position in Global-e Online in the 3rd quarter valued at about $7,838,000. Finally, Brown Capital Management LLC raised its holdings in Global-e Online by 10.0% in the 3rd quarter. Brown Capital Management LLC now owns 2,389,842 shares of the company’s stock valued at $85,461,000 after acquiring an additional 216,304 shares during the period. 94.60% of the stock is owned by institutional investors and hedge funds.

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.