Global-e Online Ltd. (NASDAQ:GLBE) Stock Has Average Target Price of $47.69 According to Brokerages

Key Points

• Global-e Online has a Moderate Buy consensus among 16 analysts, with 13 buy ratings, two holds and one strong buy. The average 12-month price target is $47.69, above the reported share price of $40.15.
• Institutional ownership is high at 94.6%, with several funds increasing their positions during the second quarter, including Wasatch Advisors, which boosted its stake by 28.1%.
• Company insiders sold 658,319 shares worth approximately $26.8 million over the past 90 days. Global-e recently reported quarterly revenue of $299 million and earnings of $0.37 per share.

Shares of Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) have received an average rating of "Moderate Buy" from the sixteen ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $47.69.

GLBE has been the topic of a number of analyst reports. Citigroup reiterated a "market outperform" rating on shares of Global-e Online in a report on Thursday, August 13th. Loop Capital set a $49.00 price target on Global-e Online in a report on Wednesday, August 12th. Morgan Stanley upped their price objective on Global-e Online from $44.00 to $46.00 and gave the company an "equal weight" rating in a research report on Thursday, August 13th. Jefferies Financial Group reiterated a "buy" rating and set a $48.00 price objective on shares of Global-e Online in a research report on Wednesday, August 12th. Finally, Raymond James Financial restated an "outperform" rating and issued a $48.00 target price on shares of Global-e Online in a report on Thursday, August 13th.

Insider Activity

In other news, CEO Amir Schlachet sold 100,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $42.20, for a total transaction of $4,220,000.00. Following the transaction, the chief executive officer directly owned 3,965,422 shares in the company, valued at $167,340,808.40. This represents a 2.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Shahar Tamari sold 24,999 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $41.63, for a total transaction of $1,040,708.37. Following the completion of the sale, the chief operating officer directly owned 3,856,689 shares in the company, valued at $160,553,963.07. This represents a 0.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 658,319 shares of company stock valued at $26,838,705 in the last 90 days. 11.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLBE. Empowered Funds LLC acquired a new stake in Global-e Online during the 1st quarter valued at $1,144,000. Keenan Capital LLC lifted its holdings in Global-e Online by 4.8% in the 2nd quarter. Keenan Capital LLC now owns 1,955,262 shares of the company's stock worth $67,906,000 after buying an additional 90,000 shares in the last quarter. Wasatch Advisors LP boosted its position in Global-e Online by 28.1% in the 2nd quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company's stock valued at $287,397,000 after buying an additional 1,816,606 shares during the last quarter. Handelsbanken Fonder AB boosted its position in Global-e Online by 38.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 174,989 shares of the company's stock valued at $6,077,000 after buying an additional 48,145 shares during the last quarter. Finally, Summit Creek Advisors LLC acquired a new stake in shares of Global-e Online during the second quarter valued at about $5,974,000. Institutional investors and hedge funds own 94.60% of the company's stock.

Global-e Online Trading Up 3.1%

NASDAQ:GLBE opened at $40.15 on Friday. The firm has a 50-day moving average price of $39.56 and a two-hundred day moving average price of $35.27. Global-e Online has a twelve month low of $26.84 and a twelve month high of $43.99. The company has a market capitalization of $6.81 billion, a P/E ratio of 46.69 and a beta of 0.98.

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

About Global-e Online

Global-e Online Ltd. is an Israel-based technology company that provides an end-to-end platform for cross-border e-commerce. Its software helps retailers and brands sell directly to consumers in international markets by adapting online shopping experiences to local languages, currencies, payment methods, tax requirements and delivery preferences.

The company's services support the international customer journey, including localized storefronts and checkout experiences, calculation and collection of duties and taxes, payment processing, fraud prevention, international shipping, order management and returns.

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