Global-e Online (NASDAQ:GLBE) Given New $47.00 Price Target at Truist Financial

Key Points

• Truist Financial raised Global-e Online’s price target to $47 from $41 and maintained a “buy” rating, implying 20.46% upside from the prior close.
• Analyst sentiment remains positive, with 13 buy ratings and three holds; the stock carries a “Moderate Buy” consensus and an average price target of $47.69.
• Global-e Online reported quarterly revenue of $299 million and earnings per share of $0.37. Shares opened at $39.02, while insiders sold approximately $25.8 million of stock over the past 90 days.

Global-e Online (NASDAQ:GLBE - Get Free Report) had its target price hoisted by investment analysts at Truist Financial from $41.00 to $47.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's target price would indicate a potential upside of 20.46% from the company's previous close.

Several other analysts have also recently weighed in on the company. BMO Capital Markets lifted their price target on Global-e Online from $42.00 to $46.00 and gave the stock an "outperform" rating in a report on Tuesday, August 4th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $48.00 price objective on shares of Global-e Online in a report on Wednesday, August 12th. Zacks Research lowered Global-e Online from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 3rd. Weiss Ratings upgraded Global-e Online from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, August 19th. Finally, Wall Street Zen raised Global-e Online from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $47.69.

Global-e Online Stock Performance

Shares of GLBE stock opened at $39.02 on Tuesday. Global-e Online has a 52 week low of $26.84 and a 52 week high of $43.99. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 45.97 and a beta of 1.03. The company has a 50-day simple moving average of $37.82 and a 200 day simple moving average of $34.17.

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. Sell-side analysts forecast that Global-e Online will post 1.13 EPS for the current year.

Insiders Place Their Bets

In related news, COO Shahar Tamari sold 28,623 shares of the business's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $36.02, for a total value of $1,031,000.46. Following the completion of the transaction, the chief operating officer owned 3,956,685 shares of the company's stock, valued at $142,519,793.70. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Amir Schlachet sold 100,000 shares of the company's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $42.20, for a total transaction of $4,220,000.00. Following the sale, the chief executive officer directly owned 3,965,422 shares of the company's stock, valued at $167,340,808.40. This represents a 2.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 659,496 shares of company stock worth $25,790,295 in the last 90 days. 11.60% of the stock is owned by company insiders.

Institutional Trading of Global-e Online

Several large investors have recently made changes to their positions in the company. IFP Advisors Inc increased its stake in shares of Global-e Online by 73.3% in the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company's stock valued at $38,000 after purchasing an additional 448 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of 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 buying an additional 528 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Global-e Online by 0.5% during the 4th quarter. California State Teachers Retirement System now owns 116,092 shares of the company's stock worth $4,564,000 after buying an additional 533 shares during the last quarter. Main Management ETF Advisors LLC boosted its stake in Global-e Online by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 52,461 shares of the company's stock valued at $2,062,000 after buying an additional 536 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in Global-e Online by 8.3% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 8,224 shares of the company's stock valued at $286,000 after buying an additional 631 shares in the last quarter. Institutional investors and hedge funds 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.

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