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

Shares of Global-e Online Ltd. (NASDAQ:GLBE) have earned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $47.6923.

A number of research analysts have recently weighed in on GLBE shares. Needham & Company LLC reissued a “buy” rating on shares of Global-e Online in a research note on Wednesday, May 27th. Wall Street Zen raised Global-e Online from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Loop Capital set a $49.00 target price on Global-e Online in a report on Wednesday, August 12th. Morgan Stanley raised their price target on Global-e Online from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $48.00 price target on shares of Global-e Online in a report on Wednesday, August 12th.

Insider Buying and Selling

In other Global-e Online news, COO Shahar Tamari sold 24,999 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $41.63, for a total value of $1,040,708.37. Following the transaction, the chief operating officer directly owned 3,856,689 shares in the company, valued at approximately $160,553,963.07. This represents a 0.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Nir Debbi sold 14,582 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $40.11, for a total transaction of $584,884.02. Following the completion of the transaction, the president owned 4,430,285 shares in the company, valued at approximately $177,698,731.35. This trade represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 659,496 shares of company stock worth $25,790,295. 11.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Global-e Online

A number of institutional investors have recently modified their holdings of GLBE. California State Teachers Retirement System boosted its holdings in shares of Global-e Online by 3,399.9% during the second quarter. California State Teachers Retirement System now owns 4,066,709 shares of the company’s stock worth $141,237,000 after purchasing an additional 3,950,515 shares during the last quarter. Wasatch Advisors LP grew its position in shares of Global-e Online by 231.8% in the second quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company’s stock valued at $114,847,000 after purchasing an additional 2,392,124 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Global-e Online by 68.5% in the fourth 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 increased its stake in Global-e Online by 1,539.4% in the fourth 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. Finally, Wellington Management Group LLP lifted its position in Global-e Online by 3,232.4% during the second quarter. Wellington Management Group LLP now owns 2,101,009 shares of the company’s stock worth $72,968,000 after buying an additional 2,037,962 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-e Online Trading Down 0.8%

Shares of NASDAQ GLBE opened at $39.13 on Thursday. The company’s 50-day moving average price is $38.11 and its 200 day moving average price is $34.26. Global-e Online has a 52 week low of $26.84 and a 52 week high of $43.99. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of 45.50 and a beta of 1.03.

Global-e Online (NASDAQ:GLBE) last announced its earnings results on Tuesday, June 30th. The company reported $0.37 earnings per share (EPS) for the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. The company had revenue of $299.00 million during the quarter. As a group, research analysts expect that Global-e Online will post 1.23 earnings per share for the current year.

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.