Global-e Online Ltd. (NASDAQ:GLBE) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Global-e Online received a consensus analyst rating of “Moderate Buy” from 15 brokerages, with an average 1-year price target of about $43.92.
• The company’s latest quarterly results topped expectations, with EPS of $0.27 versus $0.18 expected and revenue of $252.09 million, up 32.8% year over year.
• Despite the positive outlook, insiders have been selling shares recently, including the COO and CEO, while institutional investors still hold a large majority of the stock at 94.6%.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the fifteen brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $43.9167.

Several equities analysts have issued reports on the stock. Wall Street Zen downgraded shares of Global-e Online from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Deutsche Bank Aktiengesellschaft raised shares of Global-e Online to an "accumulate" rating in a report on Wednesday, May 27th. Piper Sandler reaffirmed an "overweight" rating on shares of Global-e Online in a report on Thursday, February 19th. UBS Group decreased their price objective on shares of Global-e Online from $52.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, March 31st. Finally, Weiss Ratings downgraded shares of Global-e Online from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, May 8th.

Global-e Online Stock Performance

Shares of NASDAQ GLBE opened at $32.13 on Friday. The company has a market capitalization of $5.45 billion, a PE ratio of 49.43 and a beta of 1.16. Global-e Online has a 1 year low of $26.84 and a 1 year high of $41.94. The company's fifty day moving average price is $30.94 and its 200 day moving average price is $34.78.

Global-e Online (NASDAQ:GLBE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.09. The business had revenue of $252.09 million for the quarter, compared to the consensus estimate of $250.78 million. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. The company's revenue was up 32.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.11) earnings per share. On average, equities analysts expect that Global-e Online will post 1.12 EPS for the current year.

Insider Buying and Selling at Global-e Online

In other news, COO Shahar Tamari sold 25,949 shares of the firm's stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $34.79, for a total value of $902,765.71. Following the transaction, the chief operating officer directly owned 3,790,225 shares of the company's stock, valued at approximately $131,861,927.75. This trade represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Amir Schlachet sold 16,666 shares of the firm's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $34.45, for a total transaction of $574,143.70. Following the completion of the transaction, the chief executive officer directly owned 3,562,787 shares in the company, valued at approximately $122,738,012.15. This represents a 0.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 231,554 shares of company stock valued at $7,645,702 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 and other institutional investors have recently modified their holdings of GLBE. Wasatch Advisors LP lifted its stake in shares of Global-e Online by 231.8% in the second quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company's stock worth $114,847,000 after buying an additional 2,392,124 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Global-e Online by 68.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company's stock worth $230,842,000 after buying an additional 2,387,242 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Global-e Online by 1,539.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,269,482 shares of the company's stock worth $89,213,000 after buying an additional 2,131,047 shares in the last quarter. Arohi Asset Management PTE Ltd. lifted its stake in shares of Global-e Online by 91.0% in the second quarter. Arohi Asset Management PTE Ltd. now owns 2,822,884 shares of the company's stock worth $94,680,000 after buying an additional 1,345,156 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Global-e Online in the fourth quarter worth about $51,104,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

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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