Global-e Online Ltd. (NASDAQ:GLBE) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Global-e Online has a “Moderate Buy” consensus from 16 analysts: 13 buy ratings, two holds and one sell. The average 12-month price target is $47.23, above the stock’s reported $41.24 price.
• The company reported quarterly earnings of $0.37 per share on $299 million in revenue, with a 13.87% net margin and 16.70% return on equity.
• Insiders sold shares worth about $24.75 million over the past three months, while institutional investors and hedge funds own 94.6% of the company.

Shares of Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) have earned an average recommendation of "Moderate Buy" from the sixteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $47.2308.

A number of analysts recently weighed in on GLBE shares. Deutsche Bank Aktiengesellschaft upgraded shares of Global-e Online to an "accumulate" rating in a research note on Wednesday, May 27th. Piper Sandler reiterated an "overweight" rating and set a $48.00 target price on shares of Global-e Online in a research note on Tuesday, August 11th. The Goldman Sachs Group reissued a "buy" rating on shares of Global-e Online in a report on Wednesday, August 12th. Raymond James Financial reaffirmed an "outperform" rating and set a $48.00 price objective on shares of Global-e Online in a research note on Thursday, August 13th. Finally, BMO Capital Markets boosted their target price on Global-e Online from $42.00 to $46.00 and gave the company an "outperform" rating in a report on Tuesday, August 4th.

Global-e Online Trading Down 0.2%

Shares of NASDAQ GLBE opened at $41.24 on Thursday. Global-e Online has a twelve month low of $26.84 and a twelve month high of $43.99. The stock has a 50 day moving average of $37.35 and a two-hundred day moving average of $34.07. The stock has a market cap of $7.00 billion, a P/E ratio of 47.95 and a beta of 1.03.

Global-e Online (NASDAQ:GLBE - Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $0.37 earnings per share for the quarter. The business had revenue of $299.00 million during the quarter. Global-e Online had a return on equity of 16.70% and a net margin of 13.87%. As a group, research analysts predict that Global-e Online will post 1.13 earnings per share for the current year.

Insider Buying and Selling at Global-e Online

In other Global-e Online news, COO Shahar Tamari sold 28,623 shares of the company's stock in a transaction on Friday, June 26th. The shares were sold at an average price of $36.02, for a total transaction of $1,031,000.46. Following the completion of the transaction, the chief operating officer owned 3,956,685 shares in the company, valued at approximately $142,519,793.70. This represents a 0.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amir Schlachet sold 100,000 shares of the firm's stock in a transaction on 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 completion of the sale, the chief executive officer owned 3,965,422 shares of the company's stock, valued at $167,340,808.40. This trade represents a 2.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 634,497 shares of company stock worth $24,749,587 over the last three months. 11.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Global-e Online

A number of hedge funds have recently added to or reduced their stakes in GLBE. Royal Bank of Canada raised its stake in shares of Global-e Online by 87.4% during the 1st quarter. Royal Bank of Canada now owns 75,286 shares of the company's stock worth $2,684,000 after buying an additional 35,120 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Global-e Online by 17.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,654 shares of the company's stock valued at $1,948,000 after buying an additional 8,239 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Global-e Online by 67.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company's stock valued at $47,000 after buying an additional 528 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Global-e Online during the second quarter worth $5,428,000. Finally, Brown Advisory Inc. acquired a new position in Global-e Online during the second quarter worth $726,000. Institutional investors and hedge funds own 94.60% of the company's stock.

Global-e Online Company Profile

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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