Piper Sandler Reaffirms "Overweight" Rating for Global-e Online (NASDAQ:GLBE)

Key Points

• Piper Sandler reaffirmed its Overweight rating on Global-e Online and set a $52 price target, implying 26.67% upside from the previous close.
• Analyst sentiment is broadly positive: 13 analysts rate the shares Buy and three Hold, producing a consensus Moderate Buy rating and an average target of $48.83.
• Company insiders sold about 544,000 shares worth $22.25 million over the past 90 days; institutional investors and hedge funds own 94.6% of the stock.

Global-e Online (NASDAQ:GLBE - Get Free Report)'s stock had its "overweight" rating restated by equities researchers at Piper Sandler in a research note issued on Friday, Benzinga reports. They presently have a $52.00 target price on the stock. Piper Sandler's price target indicates a potential upside of 26.67% from the company's previous close.

Several other research analysts have also recently weighed in on the company. Morgan Stanley raised their target price on Global-e Online from $44.00 to $46.00 and gave the company an "equal weight" rating in a research note on Thursday, August 13th. The Goldman Sachs Group reiterated a "buy" rating on shares of Global-e Online in a research report on Wednesday, August 12th. Truist Financial upped their price target on shares of Global-e Online from $47.00 to $48.00 and gave the company a "buy" rating in a report on Friday, October 23rd. Needham & Company LLC restated a "buy" rating and set a $47.00 price objective on shares of Global-e Online in a research report on Tuesday, September 1st. Finally, Weiss Ratings raised shares of Global-e Online from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, October 13th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $48.83.

Global-e Online Stock Performance

Shares of GLBE stock opened at $41.05 on Friday. Global-e Online has a 1 year low of $26.84 and a 1 year high of $45.28. The stock has a market cap of $6.97 billion, a PE ratio of 47.73 and a beta of 1.10. The business's fifty day moving average is $40.10 and its 200-day moving average is $35.93.

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

Insiders Place Their Bets

In other news, CEO Amir Schlachet sold 24,999 shares of the company's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $38.24, for a total value of $955,961.76. Following the transaction, the chief executive officer owned 3,716,732 shares in the company, valued at $142,127,831.68. This represents a 0.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Nir Debbi sold 100,000 shares of the company's stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $44.59, for a total transaction of $4,459,000.00. Following the completion of the transaction, the president owned 4,242,793 shares in the company, valued at approximately $189,186,139.87. This represents a 2.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 544,197 shares of company stock valued at $22,250,761 over the last ninety days. Corporate insiders own 11.60% of the company's stock.

Hedge Funds Weigh In On Global-e Online

Several hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP lifted its position in shares of Global-e Online by 28.1% in 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. Janus Henderson Group PLC increased its holdings in shares of Global-e Online by 4.0% during the 1st quarter. Janus Henderson Group PLC now owns 2,360,866 shares of the company's stock valued at $72,833,000 after acquiring an additional 91,384 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Global-e Online by 3,232.4% in the 2nd quarter. Wellington Management Group LLP now owns 2,101,009 shares of the company's stock valued at $72,968,000 after acquiring an additional 2,037,962 shares in the last quarter. Spyglass Capital Management LLC raised its stake in shares of Global-e Online by 1.1% in the 2nd quarter. Spyglass Capital Management LLC now owns 1,958,379 shares of the company's stock valued at $68,015,000 after acquiring an additional 20,610 shares in the last quarter. Finally, Keenan Capital LLC raised its stake in shares of Global-e Online by 4.8% in the 2nd quarter. Keenan Capital LLC now owns 1,955,262 shares of the company's stock valued at $67,906,000 after acquiring an additional 90,000 shares in the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.

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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