Global-e Online (NASDAQ:GLBE) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Key Points

• BMO Capital Markets raised its price target for Global-e Online from $42 to $46 and maintained an “outperform” rating, implying 14.43% upside from the prior close.
• Analyst sentiment is broadly positive: 13 analysts rate the stock Buy, one rates it Hold and one rates it Sell, resulting in a “Moderate Buy” consensus and an average target price of $44.83.
• Global-e Online shares opened at $40.20, near their one-year high of $41.94, while insiders have sold more than $10.5 million of stock over the past three months; institutional investors own 94.6% of shares.

Global-e Online (NASDAQ:GLBE - Get Free Report) had its target price upped by equities research analysts at BMO Capital Markets from $42.00 to $46.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. BMO Capital Markets' target price suggests a potential upside of 14.43% from the stock's previous close.

Several other research firms have also recently commented on GLBE. Weiss Ratings cut Global-e Online from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 8th. Raymond James Financial reissued an "outperform" rating and issued a $42.00 price target on shares of Global-e Online in a report on Wednesday, May 13th. Zacks Research lowered Global-e Online from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft upgraded Global-e Online to an "accumulate" rating in a report on Wednesday, May 27th. Finally, Morgan Stanley cut their target price on Global-e Online from $43.00 to $37.00 and set an "overweight" rating on the stock in a research report on Thursday, May 14th. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Global-e Online presently has an average rating of "Moderate Buy" and a consensus target price of $44.83.

Global-e Online Price Performance

NASDAQ:GLBE opened at $40.20 on Tuesday. The firm has a 50-day moving average of $35.02 and a two-hundred day moving average of $33.74. The stock has a market cap of $6.82 billion, a P/E ratio of 61.85 and a beta of 1.03. Global-e Online has a 1-year low of $26.84 and a 1-year high of $41.94.

Insider Transactions at Global-e Online

In other news, President Nir Debbi sold 9,233 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $33.70, for a total value of $311,152.10. Following the transaction, the president directly owned 4,559,466 shares in the company, valued at approximately $153,654,004.20. This trade represents a 0.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Shahar Tamari sold 28,623 shares of Global-e Online stock in a transaction dated 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 directly owned 3,956,685 shares of the company's stock, valued at $142,519,793.70. This trade represents a 0.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 306,298 shares of company stock worth $10,554,239. 11.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Global-e Online

Several institutional investors have recently made changes to their positions in GLBE. Legal & General Group Plc increased its stake in shares of Global-e Online by 105.3% in the fourth quarter. Legal & General Group Plc now owns 578,139 shares of the company's stock valued at $22,727,000 after purchasing an additional 296,466 shares during the period. Annex Advisory Services LLC boosted its position in shares of Global-e Online by 64.4% during the fourth quarter. Annex Advisory Services LLC now owns 640,016 shares of the company's stock worth $25,159,000 after buying an additional 250,625 shares during the period. Vitruvian Partners LLP boosted its position in shares of Global-e Online by 21.9% during the fourth quarter. Vitruvian Partners LLP now owns 210,209 shares of the company's stock worth $8,263,000 after buying an additional 37,767 shares during the period. Handelsbanken Fonder AB grew its holdings in Global-e Online by 51.7% in the 4th quarter. Handelsbanken Fonder AB now owns 114,076 shares of the company's stock worth $4,484,000 after buying an additional 38,869 shares in the last quarter. Finally, Next Century Growth Investors LLC grew its holdings in Global-e Online by 38.6% in the 4th quarter. Next Century Growth Investors LLC now owns 274,708 shares of the company's stock worth $10,799,000 after buying an additional 76,452 shares in the last quarter. 94.60% of the stock is owned by 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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