BMO Capital Markets Forecasts Strong Price Appreciation for Global-e Online (NASDAQ:GLBE) Stock

Key Points

• BMO Capital Markets raised its price target for Global-e Online to $51 from $48 and maintained an “outperform” rating, implying 22.69% upside from the cited share price of $41.57.
• Analyst sentiment is broadly positive: 13 analysts rate the stock Buy and three Hold, giving it a “Moderate Buy” consensus and an average price target of $48.50.
• Shares fell 1.5% in Thursday trading. Two senior executives also reported stock sales, while insiders collectively sold 625,753 shares over the past 90 days.

Global-e Online (NASDAQ:GLBE - Get Free Report) had its price objective lifted by equities researchers at BMO Capital Markets from $48.00 to $51.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. BMO Capital Markets's price objective would suggest a potential upside of 22.69% from the stock's current price.

Several other analysts also recently weighed in on the company. The Goldman Sachs Group reiterated a "buy" rating on shares of Global-e Online in a research report on Wednesday, August 12th. Raymond James Financial reaffirmed an "outperform" rating and issued a $48.00 target price on shares of Global-e Online in a research report on Thursday, August 13th. Jefferies Financial Group reiterated a "buy" rating and issued a $48.00 price target on shares of Global-e Online in a research note on Wednesday, August 12th. Needham & Company LLC reissued a "buy" rating and set a $47.00 price objective on shares of Global-e Online in a research note on Tuesday, September 1st. Finally, Benchmark restated a "buy" rating on shares of Global-e Online in a report on Thursday, August 13th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.50.

Global-e Online Trading Down 1.5%

Shares of GLBE stock traded down $0.64 during trading hours on Thursday, reaching $41.57. The stock had a trading volume of 168,067 shares, compared to its average volume of 1,517,398. The stock's fifty day simple moving average is $40.06 and its 200 day simple moving average is $35.92. The firm has a market capitalization of $7.06 billion, a PE ratio of 48.33 and a beta of 1.10. Global-e Online has a 12 month low of $26.84 and a 12 month high of $45.28.

Global-e Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The company reported $0.37 earnings per share for the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. The firm had revenue of $299.00 million for the quarter. As a group, equities research analysts anticipate that Global-e Online will post 1.32 EPS for the current fiscal year.

Insider Activity at Global-e Online

In related news, COO Shahar Tamari sold 27,957 shares of the firm's stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $44.48, for a total value 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 trade represents a 0.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Nir Debbi sold 18,069 shares of Global-e Online stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $44.51, for a total value of $804,251.19. Following the completion of the sale, the president directly owned 4,224,724 shares of the company's stock, valued at $188,042,465.24. The trade was a 0.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 625,753 shares of company stock valued at $25,700,579 over the last ninety days. Insiders own 11.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GLBE. Advisors Asset Management Inc. bought a new stake in Global-e Online during the third quarter valued at about $147,000. Stephens Investment Management Group LLC boosted its position in shares of Global-e Online by 24.8% in the third 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 shares of Global-e Online during the 3rd quarter valued at $7,596,000. Mawer Investment Management Ltd. lifted its stake in shares of Global-e Online by 15.0% during the 3rd 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 in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Global-e Online by 65.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 189,962 shares of the company's stock worth $7,547,000 after buying an additional 75,299 shares during the period. 94.60% of the stock is currently owned by institutional investors.

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.

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