Global-e Online (NASDAQ:GLBE) Stock Rating Upgraded by Truist Financial

Global-e Online (NASDAQ:GLBE) was upgraded by stock analysts at Truist Financial from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm presently has a $39.00 price target on the stock. Truist Financial’s price objective would suggest a potential upside of 20.44% from the stock’s previous close.

Several other brokerages have also recently commented on GLBE. UBS Group dropped their target price on Global-e Online from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, March 31st. BMO Capital Markets began coverage on Global-e Online in a report on Tuesday, April 21st. They issued an “outperform” rating and a $42.00 price target on the stock. Zacks Research cut Global-e Online from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $40.00 price target on shares of Global-e Online in a report on Wednesday, May 13th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $42.00 price target on shares of Global-e Online in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.33.

Global-e Online Stock Up 0.7%

GLBE stock opened at $32.38 on Wednesday. Global-e Online has a fifty-two week low of $26.84 and a fifty-two week high of $41.94. The company has a market capitalization of $5.50 billion, a P/E ratio of 49.82 and a beta of 1.16. The company has a 50-day simple moving average of $31.03 and a 200 day simple moving average of $34.72.

Global-e Online (NASDAQ:GLBE) last announced its earnings results on Wednesday, May 13th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.18 by $0.09. Global-e Online had a return on equity of 12.64% and a net margin of 11.37%.The firm had revenue of $252.09 million for the quarter, compared to analysts’ expectations of $250.78 million. During the same quarter in the previous year, the company earned ($0.11) earnings per share. The firm’s quarterly revenue was up 32.8% compared to the same quarter last year. Equities analysts anticipate that Global-e Online will post 1.12 EPS 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 on Monday, June 1st. The shares were sold at an average price of $33.70, for a total transaction of $311,152.10. Following the sale, the president directly owned 4,559,466 shares of the company’s stock, valued at $153,654,004.20. The trade was a 0.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amir Schlachet sold 16,666 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $33.34, for a total transaction of $555,644.44. Following the sale, the chief executive officer directly owned 4,216,724 shares in the company, valued at approximately $140,585,578.16. This trade represents a 0.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 248,220 shares of company stock valued at $8,183,640 in the last three months. 11.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Global-e Online

Large investors have recently made changes to their positions in the company. Vitruvian Partners LLP grew its stake in shares of Global-e Online by 23.1% in the 3rd quarter. Vitruvian Partners LLP now owns 172,442 shares of the company’s stock valued at $6,167,000 after buying an additional 32,405 shares in the last quarter. Annex Advisory Services LLC grew its stake in shares of Global-e Online by 64.4% in the 4th quarter. Annex Advisory Services LLC now owns 640,016 shares of the company’s stock valued at $25,159,000 after buying an additional 250,625 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Global-e Online by 105.3% in the 4th quarter. Legal & General Group Plc now owns 578,139 shares of the company’s stock valued at $22,727,000 after buying an additional 296,466 shares in the last quarter. NZS Capital LLC grew its stake in shares of Global-e Online by 39.3% in the 3rd quarter. NZS Capital LLC now owns 950,631 shares of the company’s stock valued at $33,995,000 after buying an additional 268,328 shares in the last quarter. Finally, Spyglass Capital Management LLC grew its stake in shares of Global-e Online by 63.0% in the 3rd quarter. Spyglass Capital Management LLC now owns 2,703,171 shares of the company’s stock valued at $96,665,000 after buying an additional 1,044,960 shares in the last quarter. Institutional investors own 94.60% of the company’s stock.

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.