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

Global-e Online Ltd. (NASDAQ:GLBE) has received an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $44.1667.

Several brokerages recently issued reports on GLBE. Wall Street Zen downgraded shares of Global-e Online from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Piper Sandler reiterated an “overweight” rating on shares of Global-e Online in a research note on Thursday, February 19th. Morgan Stanley decreased their target price on Global-e Online from $43.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. KeyCorp decreased their target price 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. Finally, Weiss Ratings lowered Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th.

Insider Transactions at Global-e Online

In other news, President Nir Debbi sold 4,166 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $32.57, for a total transaction of $135,686.62. Following the completion of the sale, the president owned 4,290,693 shares in the company, valued at approximately $139,747,871.01. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Amir Schlachet sold 6,194 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $32.45, for a total transaction of $200,995.30. Following the sale, the chief executive officer owned 3,967,884 shares of the company’s stock, valued at approximately $128,757,835.80. This represents a 0.16% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 167,708 shares of company stock worth $5,586,117. 11.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Global-e Online

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

Global-e Online Trading Up 3.5%

Shares of GLBE opened at $28.87 on Tuesday. The company has a market cap of $4.90 billion, a price-to-earnings ratio of 44.42 and a beta of 1.18. Global-e Online has a 1-year low of $26.84 and a 1-year high of $41.94. The company’s fifty day simple moving average is $31.75 and its 200 day simple moving average is $35.29.

Global-e Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, May 13th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. The business had revenue of $252.09 million for the quarter, compared to the consensus estimate of $250.78 million. During the same period in the previous year, the company earned ($0.11) earnings per share. The firm’s revenue for the quarter was up 32.8% on a year-over-year basis. As a group, research analysts forecast that Global-e Online will post 1.12 earnings per share for the current year.

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.