Global-e Online’s (GLBE) Overweight Rating Reaffirmed at Piper Sandler

Global-e Online (NASDAQ:GLBE)‘s stock had its “overweight” rating reissued by research analysts at Piper Sandler in a research note issued on Wednesday,Benzinga reports. They presently have a $48.00 price target on the stock. Piper Sandler’s price objective suggests a potential upside of 23.39% from the stock’s previous close.

Several other analysts also recently commented on the stock. Needham & Company LLC reiterated a “buy” rating on shares of Global-e Online in a research report on Wednesday, May 27th. Bank of America assumed 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 objective on the stock. Truist Financial upped their target price on shares of Global-e Online from $39.00 to $41.00 and gave the company a “buy” rating in a report on Friday, July 24th. Wall Street Zen lowered Global-e Online from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Zacks Research cut Global-e Online from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Global-e Online Stock Up 3.0%

NASDAQ:GLBE opened at $38.90 on Wednesday. Global-e Online has a 52 week low of $26.84 and a 52 week high of $41.94. The company has a fifty day simple moving average of $34.23 and a two-hundred day simple moving average of $33.77. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 59.85 and a beta of 1.06.

Insider Buying and Selling at Global-e Online

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

Institutional Investors Weigh In On Global-e Online

Several institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc increased its holdings in Global-e Online by 73.3% in the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after buying an additional 448 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Global-e Online in the fourth quarter valued at approximately $39,000. Geneos Wealth Management Inc. grew its position in shares of Global-e Online by 67.2% in the first 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 increased its stake 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 worth $61,000 after purchasing 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 worth approximately $72,000. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

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.