Global-e Online (NASDAQ:GLBE) Upgraded by Zacks Research to Strong-Buy Rating

Key Points

• Zacks Research upgraded Global-e Online to “Strong Buy” from “Hold,” while the broader analyst consensus remains “Moderate Buy” with a $47.69 target price.
• Global-e Online shares opened at $39.13, with a market capitalization of $6.64 billion; the company recently reported quarterly revenue of $299 million and earnings per share of $0.37.
• Institutional investors own 94.6% of the stock, although insiders sold 659,496 shares worth approximately $25.8 million over the past three months.

Global-e Online (NASDAQ:GLBE - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

A number of other analysts have also recently weighed in on the company. Wall Street Zen upgraded Global-e Online from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Loop Capital set a $49.00 price objective on Global-e Online in a report on Wednesday, August 12th. Citigroup restated a "market outperform" rating on shares of Global-e Online in a research note on Thursday, August 13th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Global-e Online in a report on Wednesday, August 12th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $48.00 target price on shares of Global-e Online in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.69.

Global-e Online Stock Performance

Shares of Global-e Online stock opened at $39.13 on Tuesday. The firm has a market cap of $6.64 billion, a P/E ratio of 45.50 and a beta of 1.03. Global-e Online has a twelve month low of $26.84 and a twelve month high of $43.99. The firm's 50-day simple moving average is $38.11 and its 200-day simple moving average is $34.26.

Global-e Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported $0.37 earnings per share for the quarter. Global-e Online had a return on equity of 16.70% and a net margin of 13.87%.The company had revenue of $299.00 million for the quarter. On average, equities analysts forecast that Global-e Online will post 1.23 earnings per share for the current fiscal year.

Insider Activity at Global-e Online

In other Global-e Online news, President Nir Debbi sold 14,582 shares of Global-e Online stock in a transaction on 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 in the company, valued at approximately $177,698,731.35. The trade was a 0.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Shahar Tamari sold 24,999 shares of the business's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $41.63, for a total value of $1,040,708.37. Following the completion of the transaction, the chief operating officer directly owned 3,856,689 shares in the company, valued at approximately $160,553,963.07. This represents a 0.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 659,496 shares of company stock valued at $25,790,295 in the last three months. Corporate insiders own 11.60% of the company's stock.

Hedge Funds Weigh In On Global-e Online

A number of large investors have recently modified their holdings of the stock. Legal & General Group Plc increased its position in Global-e Online by 105.3% in the fourth quarter. Legal & General Group Plc now owns 578,139 shares of the company's stock worth $22,727,000 after purchasing an additional 296,466 shares during the period. Vitruvian Partners LLP grew its position in shares of Global-e Online by 21.9% during the 4th quarter. Vitruvian Partners LLP now owns 210,209 shares of the company's stock worth $8,263,000 after buying an additional 37,767 shares during the period. Empowered Funds LLC acquired a new stake in shares of Global-e Online during the 1st quarter worth approximately $1,144,000. Handelsbanken Fonder AB raised its stake in shares of Global-e Online by 51.7% during the fourth quarter. Handelsbanken Fonder AB now owns 114,076 shares of the company's stock worth $4,484,000 after buying an additional 38,869 shares during the last quarter. Finally, Wasatch Advisors LP raised its stake in shares of Global-e Online by 28.1% during the second quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company's stock worth $287,397,000 after buying an additional 1,816,606 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

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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