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

Key Points

• Global-e Online has an average analyst rating of “Moderate Buy” from 15 covering firms, with a consensus 1-year price target of $44.50.
• Several analysts recently reiterated positive views, including BMO Capital Markets, Benchmark, Needham, Truist, and Raymond James, with price targets mostly in the $41–$42 range.
• Insiders have been selling shares: the COO and CEO each sold 24,999 shares, and insiders sold a total of 319,914 shares in the last quarter, though institutional investors still own 94.6% of the stock.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) has been given an average rating of "Moderate Buy" by the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, twelve have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $44.50.

Several equities research analysts recently issued reports on the company. BMO Capital Markets started coverage on Global-e Online in a research report on Tuesday, April 21st. They set an "outperform" rating and a $42.00 price target on the stock. Benchmark reaffirmed a "buy" rating on shares of Global-e Online in a report on Wednesday, May 27th. Needham & Company LLC reiterated a "buy" rating on shares of Global-e Online in a research note on Wednesday, May 27th. Truist Financial increased their target price on shares of Global-e Online from $39.00 to $41.00 and gave the stock a "buy" rating in a report on Friday. Finally, Raymond James Financial restated an "outperform" rating and issued a $42.00 price target on shares of Global-e Online in a research report on Wednesday, May 13th.

Insider Activity at Global-e Online

In other Global-e Online news, COO Shahar Tamari sold 24,999 shares of Global-e Online stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $36.81, for a total value of $920,213.19. Following the completion of the transaction, the chief operating officer directly owned 3,931,686 shares in the company, valued at $144,725,361.66. The trade was a 0.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amir Schlachet sold 24,999 shares of Global-e Online stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $37.09, for a total value of $927,212.91. Following the completion of the transaction, the chief executive officer owned 4,116,728 shares of the company's stock, valued at approximately $152,689,441.52. The trade was a 0.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 319,914 shares of company stock valued at $10,989,302 in the last quarter. Insiders own 11.60% of the company's stock.

Institutional Trading of Global-e Online

Several hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP grew its position in shares of Global-e Online by 231.8% during the second quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company's stock worth $114,847,000 after acquiring an additional 2,392,124 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Global-e Online by 68.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company's stock valued at $230,842,000 after purchasing an additional 2,387,242 shares during the last quarter. Janus Henderson Group PLC lifted its position in Global-e Online by 1,539.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,269,482 shares of the company's stock valued at $89,213,000 after purchasing an additional 2,131,047 shares during the last quarter. Arohi Asset Management PTE Ltd. boosted its stake in Global-e Online by 91.0% during the 2nd quarter. Arohi Asset Management PTE Ltd. now owns 2,822,884 shares of the company's stock valued at $94,680,000 after purchasing an additional 1,345,156 shares during the period. Finally, Norges Bank acquired a new position in Global-e Online during the 4th quarter valued at about $51,104,000. Institutional investors own 94.60% of the company's stock.

Global-e Online Trading Up 5.0%

Shares of GLBE opened at $36.21 on Friday. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of 55.71 and a beta of 1.06. The stock has a 50 day moving average of $33.85 and a 200-day moving average of $33.81. Global-e Online has a 52 week low of $26.84 and a 52 week high of $41.94.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.