BMO Capital Markets Issues Positive Forecast for Global-e Online (NASDAQ:GLBE) Stock Price

Global-e Online (NASDAQ:GLBE) had its target price upped by equities researchers at BMO Capital Markets from $48.00 to $51.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets‘s target price points to a potential upside of 22.69% from the stock’s previous close.

Several other research firms also recently commented on GLBE. Weiss Ratings raised shares of Global-e Online from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, October 13th. Truist Financial lifted their target price on Global-e Online from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Wall Street Zen upgraded Global-e Online from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Raymond James Financial reissued an “outperform” rating and set a $48.00 price target on shares of Global-e Online in a research note on Thursday, August 13th. Finally, Piper Sandler restated an “overweight” rating and set a $48.00 price target on shares of Global-e Online in a report on Tuesday, August 11th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.50.

Global-e Online Price Performance

Shares of GLBE stock traded down $0.64 during mid-day trading on Thursday, hitting $41.57. The company had a trading volume of 168,067 shares, compared to its average volume of 1,517,398. The stock’s 50 day moving average price is $40.06 and its 200-day moving average price is $35.92. Global-e Online has a 52-week low of $26.84 and a 52-week high of $45.28. The company has a market capitalization of $7.06 billion, a P/E ratio of 48.33 and a beta of 1.10.

Global-e Online (NASDAQ:GLBE) last posted its 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 during the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. On average, equities research analysts expect that Global-e Online will post 1.32 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Shahar Tamari sold 27,957 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $44.48, for a total transaction of $1,243,527.36. Following the sale, the chief operating officer owned 3,728,736 shares in the company, valued at approximately $165,854,177.28. This represents a 0.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Nir Debbi sold 100,000 shares of the firm’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $44.59, for a total value of $4,459,000.00. Following the completion of the sale, the president owned 4,242,793 shares of the company’s stock, valued at approximately $189,186,139.87. This represents a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 625,753 shares of company stock worth $25,700,579. Insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On Global-e Online

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. purchased a new position in shares of Global-e Online during the 3rd quarter worth about $147,000. Stephens Investment Management Group LLC raised its position in Global-e Online by 24.8% in the 3rd quarter. Stephens Investment Management Group LLC now owns 359,201 shares of the company’s stock worth $14,271,000 after purchasing an additional 71,411 shares during the period. Alberta Investment Management Corp bought a new stake in Global-e Online in the third quarter worth about $7,596,000. Mawer Investment Management Ltd. boosted its position in shares of Global-e Online by 15.0% during the third quarter. Mawer Investment Management Ltd. now owns 391,620 shares of the company’s stock valued at $15,559,000 after buying an additional 51,120 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Global-e Online by 65.7% during the third quarter. Russell Investments Group Ltd. now owns 189,962 shares of the company’s stock valued at $7,547,000 after buying an additional 75,299 shares during the period. Hedge funds and other institutional investors own 94.60% of the company’s stock.

About Global-e Online

Global-e Online Ltd. provides a cross-border e-commerce platform that helps retailers and consumer brands sell to shoppers in international markets. Its services support the online shopping journey, from localized storefronts and checkout through payment and delivery. The platform helps merchants tailor the shopping experience to customers in different countries, including by supporting local currencies and payment options and managing international shipping, duties and taxes, and returns. Global-e serves businesses seeking to reach consumers across a range of global markets.