Global-e Online (NASDAQ:GLBE) Price Target Raised to $41.00

Key Points

• Truist Financial raised its price target on Global-e Online to $41 from $39 and kept a buy rating, implying about 18.9% upside from the current price.
• Analyst sentiment remains generally positive overall, with MarketBeat showing a Moderate Buy consensus and an average target price of $44.50, though some firms have recently downgraded or trimmed targets.
• Global-e Online shares were down 3.0% to $34.50 on Friday, while recent insider sales by the CEO and COO added to the news flow around the stock.

Global-e Online (NASDAQ:GLBE - Get Free Report) had its price objective hoisted by research analysts at Truist Financial from $39.00 to $41.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price target suggests a potential upside of 18.84% from the company's current price.

GLBE has been the topic of a number of other research reports. Zacks Research downgraded Global-e Online from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 3rd. Bank of America initiated coverage on shares of Global-e Online in a research report on Tuesday, March 31st. They set a "buy" rating and a $43.00 price target for the company. Weiss Ratings downgraded shares of Global-e Online from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 8th. BMO Capital Markets initiated coverage on shares of Global-e Online in a research note on Tuesday, April 21st. They set an "outperform" rating and a $42.00 price objective for the company. Finally, UBS Group lowered their target price on shares of Global-e Online from $52.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $44.50.

Global-e Online Trading Down 3.0%

Shares of NASDAQ:GLBE opened at $34.50 on Friday. The company has a market capitalization of $5.86 billion, a PE ratio of 53.08 and a beta of 1.06. Global-e Online has a 12-month low of $26.84 and a 12-month high of $41.94. The business's fifty day simple moving average is $33.68 and its 200-day simple moving average is $33.80.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in Global-e Online in the fourth quarter valued at approximately $39,000. IFP Advisors Inc boosted its holdings in shares of Global-e Online by 73.3% in the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company's stock valued at $38,000 after acquiring an additional 448 shares during the last quarter. Geneos Wealth Management Inc. increased 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 worth $47,000 after acquiring an additional 528 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Global-e Online by 780.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company's stock worth $61,000 after purchasing an additional 1,616 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Global-e Online during the fourth quarter worth $72,000. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

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.

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