Global-e Online (NASDAQ:GLBE) Rating Lowered to “Hold” at Zacks Research

Global-e Online (NASDAQ:GLBE) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Several other analysts have also recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Global-e Online from $43.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. Weiss Ratings cut shares of Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. Raymond James Financial reiterated an “outperform” rating and issued a $42.00 target price on shares of Global-e Online in a research report on Wednesday, May 13th. Wall Street Zen cut shares of Global-e Online from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $40.00 target price on shares of Global-e Online in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Global-e Online presently has a consensus rating of “Moderate Buy” and an average target price of $43.92.

Global-e Online Stock Performance

Global-e Online stock opened at $32.89 on Wednesday. The firm’s fifty day moving average price is $30.94 and its 200-day moving average price is $34.80. The stock has a market cap of $5.58 billion, a P/E ratio of 50.60 and a beta of 1.16. Global-e Online has a fifty-two week low of $26.84 and a fifty-two week high of $41.94.

Global-e Online (NASDAQ:GLBE) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.09. The firm had revenue of $252.09 million for the quarter, compared to analysts’ expectations of $250.78 million. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. The business’s quarterly revenue was up 32.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.11) EPS. On average, analysts predict that Global-e Online will post 1.12 earnings per share for the current year.

Insider Buying and Selling at Global-e Online

In other Global-e Online news, President Nir Debbi sold 9,233 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $33.70, for a total value of $311,152.10. Following the transaction, the president owned 4,559,466 shares in the company, valued at approximately $153,654,004.20. The trade was a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Shahar Tamari sold 25,949 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $34.79, for a total transaction of $902,765.71. Following the completion of the transaction, the chief operating officer owned 3,790,225 shares in the company, valued at $131,861,927.75. The trade was a 0.68% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 231,554 shares of company stock worth $7,645,702. 11.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Global-e Online

A number of hedge funds have recently modified their holdings of GLBE. Wasatch Advisors LP increased 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 acquiring an additional 2,392,124 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of 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 acquiring an additional 2,387,242 shares during the period. Janus Henderson Group PLC increased its position in shares of 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 acquiring an additional 2,131,047 shares during the period. Arohi Asset Management PTE Ltd. increased its position in shares of Global-e Online by 91.0% in the second quarter. Arohi Asset Management PTE Ltd. now owns 2,822,884 shares of the company’s stock valued at $94,680,000 after acquiring an additional 1,345,156 shares during the period. Finally, Norges Bank purchased a new position in shares of Global-e Online in the fourth quarter valued at about $51,104,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Key Headlines Impacting Global-e Online

Here are the key news stories impacting Global-e Online this week:

• Positive Sentiment: Global-e’s board approved a new share repurchase program of up to $500 million, following completion of about 80% of its prior $200 million plan. This could support the stock by reducing share count and signaling confidence in future cash generation. Global-e Announces Board Authorization of $500 Million Share Repurchase Program
• Neutral Sentiment: The company noted that repurchases depend on regulatory approval in Israel, creditor objections, market conditions, liquidity, and other factors, so the buyback may not be executed as planned. Global-e Announces Board Authorization of $500 Million Share Repurchase Program
• Negative Sentiment: Recent insider selling from CEO Amir Schlachet, President Nir Debbi, and COO Shahar Tamari may weigh on sentiment, even though the sales were relatively small compared with their overall holdings. Insider sale filing

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.