Truist Financial Has Lowered Expectations for Global-e Online (NASDAQ:GLBE) Stock Price

Global-e Online (NASDAQ:GLBE) had its price objective cut by investment analysts at Truist Financial from $43.00 to $42.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 16.14% from the company’s current price.

Several other research analysts have also recently commented on GLBE. Benchmark increased their target price on shares of Global-e Online from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Piper Sandler reissued an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. KeyCorp decreased their price objective on Global-e Online from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Zacks Research upgraded Global-e Online from a “hold” rating to a “strong-buy” rating in a report on Friday, December 19th. Finally, Wall Street Zen raised Global-e Online from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Global-e Online currently has an average rating of “Moderate Buy” and a consensus price target of $47.80.

Global-e Online Stock Performance

NASDAQ GLBE traded up $1.07 during trading on Thursday, hitting $36.16. The stock had a trading volume of 72,866 shares, compared to its average volume of 1,854,798. Global-e Online has a 12 month low of $26.64 and a 12 month high of $44.20. The company’s 50-day moving average price is $36.93 and its two-hundred day moving average price is $36.22. The company has a market capitalization of $6.14 billion, a PE ratio of 97.55 and a beta of 1.24.

Institutional Trading of Global-e Online

Large investors have recently modified their holdings of the stock. IFP Advisors Inc raised 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 valued at $38,000 after purchasing an additional 448 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Global-e Online in the fourth quarter valued at approximately $39,000. Virtus Advisers LLC acquired a new stake in Global-e Online during the 2nd quarter worth approximately $47,000. Geneos Wealth Management Inc. grew its holdings in Global-e Online by 67.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after acquiring an additional 528 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Global-e Online by 780.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock valued at $61,000 after acquiring an additional 1,616 shares during the period. 94.60% of the stock is owned by institutional investors and hedge funds.

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.