Piper Sandler Reaffirms Overweight Rating for Global-e Online (NASDAQ:GLBE)

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

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets assumed coverage on shares of Global-e Online in a report on Tuesday, April 21st. They set an “outperform” rating and a $42.00 price target for the company. Bank of America began coverage on shares of Global-e Online in a research report on Tuesday, March 31st. They set a “buy” rating and a $43.00 target price on the stock. UBS Group lowered their price objective on Global-e Online from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Truist Financial increased their target price on Global-e Online from $39.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Morgan Stanley lowered their price target on Global-e Online from $43.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. One research 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 issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Global-e Online Trading Up 3.0%

Shares of GLBE stock opened at $38.90 on Wednesday. The firm has a 50-day moving average price of $34.23 and a 200 day moving average price of $33.77. Global-e Online has a twelve month low of $26.84 and a twelve month high of $41.94. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 59.85 and a beta of 1.06.

Insider Transactions at Global-e Online

In other news, COO Shahar Tamari sold 24,999 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $36.81, for a total value of $920,213.19. Following the transaction, the chief operating officer owned 3,931,686 shares of the company’s stock, valued at approximately $144,725,361.66. This trade represents a 0.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Nir Debbi sold 8,332 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $35.82, for a total transaction of $298,452.24. Following the completion of the transaction, the president directly owned 4,534,449 shares in the company, valued at approximately $162,423,963.18. This represents a 0.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 319,914 shares of company stock valued at $10,989,302 over the last 90 days. Corporate insiders own 11.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GLBE. IFP Advisors Inc boosted its position in shares of Global-e Online by 73.3% in the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock worth $38,000 after buying an additional 448 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Global-e Online during the 4th quarter valued at about $39,000. Geneos Wealth Management Inc. lifted its position 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 in the last quarter. Tower Research Capital LLC TRC boosted its holdings 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 worth $61,000 after acquiring an additional 1,616 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in Global-e Online in the 4th quarter worth approximately $72,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

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.