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

Key Points

• Analysts give Global-e a consensus rating of Moderate Buy from 13 brokerages (1 sell, 1 hold, 10 buy, 1 strong buy) with an average 1-year target of $47.80.
• Company insiders, including CEO Amir Schlachet and President Nir Debbi, sold shares in March; insiders disposed of 41,664 shares (~$1.43M) over the last 90 days while still owning 11.60% of the company.
• GLBE opened at $32.34, trades in a 52-week range of $26.64–$43.21, has a market cap of $5.49 billion and a P/E of 87.41, with 50-day/200-day moving averages near $35.26/$36.51.

Shares of Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) have received an average rating of "Moderate Buy" from the thirteen brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $47.80.

GLBE has been the topic of several recent analyst reports. Truist Financial dropped their price target on Global-e Online from $43.00 to $42.00 and set a "hold" rating on the stock in a research report on Thursday, February 26th. KeyCorp reduced their price objective on Global-e Online from $45.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday, February 19th. Wall Street Zen downgraded shares of Global-e Online from a "buy" rating to a "hold" rating in a research note on Saturday. Zacks Research raised shares of Global-e Online from a "hold" rating to a "strong-buy" rating in a research report on Friday, December 19th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Global-e Online in a report on Monday, December 29th.

Global-e Online Stock Performance

Global-e Online stock opened at $32.34 on Monday. Global-e Online has a 52 week low of $26.64 and a 52 week high of $43.21. The firm has a market capitalization of $5.49 billion, a PE ratio of 87.41 and a beta of 1.24. The business's 50-day simple moving average is $35.26 and its 200-day simple moving average is $36.51.

Insider Activity at Global-e Online

In related news, CEO Amir Schlachet sold 16,666 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $34.45, for a total value of $574,143.70. Following the completion of the sale, the chief executive officer owned 3,562,787 shares in the company, valued at approximately $122,738,012.15. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Nir Debbi sold 8,332 shares of Global-e Online stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $34.51, for a total value of $287,537.32. Following the sale, the president directly owned 3,897,506 shares in the company, valued at approximately $134,502,932.06. This trade represents a 0.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 41,664 shares of company stock worth $1,425,158. Company insiders own 11.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GLBE. Vitruvian Partners LLP lifted its holdings in shares of Global-e Online by 23.1% during the 3rd quarter. Vitruvian Partners LLP now owns 172,442 shares of the company's stock worth $6,167,000 after acquiring an additional 32,405 shares during the period. Penserra Capital Management LLC increased its stake in Global-e Online by 16.1% in the third quarter. Penserra Capital Management LLC now owns 127,667 shares of the company's stock valued at $4,564,000 after acquiring an additional 17,676 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake in Global-e Online by 50.5% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 775,000 shares of the company's stock valued at $27,714,000 after acquiring an additional 260,000 shares during the period. Nordea Investment Management AB acquired a new position in Global-e Online in the third quarter worth about $7,838,000. Finally, Brown Capital Management LLC raised its position in Global-e Online by 10.0% in the third quarter. Brown Capital Management LLC now owns 2,389,842 shares of the company's stock worth $85,461,000 after purchasing an additional 216,304 shares in 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.

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.