Global-e Online (NASDAQ:GLBE) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Global-e Online (NASDAQ:GLBE) from a hold rating to a buy rating in a research report report published on Saturday morning.

A number of other brokerages have also recently commented on GLBE. Raymond James Financial restated an “outperform” rating and set a $48.00 target price on shares of Global-e Online in a report on Thursday. Deutsche Bank Aktiengesellschaft raised shares of Global-e Online to an “accumulate” rating in a research report on Wednesday, May 27th. Morgan Stanley boosted their price objective on shares of Global-e Online from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday. BMO Capital Markets upped their price objective on shares of Global-e Online from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Tuesday, August 4th. Finally, UBS Group set a $54.00 price objective on shares of Global-e Online and gave the stock a “buy” rating in a report on Thursday. Thirteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Global-e Online presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.23.

Global-e Online Stock Up 0.4%

GLBE opened at $42.36 on Friday. 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 $7.19 billion, a PE ratio of 49.26 and a beta of 1.03. The business has a 50 day moving average of $36.82 and a 200-day moving average of $34.02.

Global-e Online (NASDAQ:GLBE) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.37 earnings per share for the quarter. The company had revenue of $299.00 million for the quarter. Global-e Online had a return on equity of 16.70% and a net margin of 13.87%. Equities analysts anticipate that Global-e Online will post 1.13 EPS for the current year.

Insider Transactions at Global-e Online

In other news, President Nir Debbi sold 14,582 shares of Global-e Online stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $40.11, for a total value of $584,884.02. Following the completion of the transaction, the president owned 4,430,285 shares of the company’s stock, valued at $177,698,731.35. The trade was a 0.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amir Schlachet sold 16,814 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $42.41, for a total transaction of $713,081.74. Following the completion of the transaction, the chief executive officer owned 3,948,286 shares in the company, valued at approximately $167,446,809.26. The trade was a 0.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 473,773 shares of company stock valued at $17,707,863. Insiders own 11.60% of the company’s stock.

Institutional Trading of Global-e Online

A number of institutional investors and hedge funds have recently bought and sold shares of GLBE. Legal & General Group Plc increased its position in shares of Global-e Online by 105.3% during the fourth quarter. Legal & General Group Plc now owns 578,139 shares of the company’s stock valued at $22,727,000 after acquiring an additional 296,466 shares in the last quarter. Vitruvian Partners LLP lifted its position in Global-e Online by 21.9% in the 4th quarter. Vitruvian Partners LLP now owns 210,209 shares of the company’s stock valued at $8,263,000 after acquiring an additional 37,767 shares in the last quarter. Empowered Funds LLC purchased a new stake in Global-e Online during the 1st quarter valued at $1,144,000. Handelsbanken Fonder AB boosted its stake in Global-e Online by 51.7% during the 4th quarter. Handelsbanken Fonder AB now owns 114,076 shares of the company’s stock valued at $4,484,000 after purchasing an additional 38,869 shares during the last quarter. Finally, Next Century Growth Investors LLC increased its holdings in shares of Global-e Online by 38.6% in the 4th quarter. Next Century Growth Investors LLC now owns 274,708 shares of the company’s stock worth $10,799,000 after purchasing an additional 76,452 shares in the last quarter. 94.60% of the stock is currently owned by 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.