Global-e Online (NASDAQ:GLBE) Upgraded by BMO Capital Markets to Strong-Buy Rating

Key Points

• BMO Capital Markets upgraded Global-e Online (GLBE) to a "Strong-Buy", and MarketBeat shows a consensus "Buy" from analysts with an average price target of $47.15.
• Shares opened at $32.85 with a 52‑week range of $27.80–$43.21; the company has a $5.58 billion market cap and a trailing PE of 88.78, reflecting a premium valuation.
• Insiders including the President and CEO sold shares in March (138,543 shares worth about $4.65M sold in the last 90 days), while institutional investors own approximately 94.6% of the stock.

Global-e Online (NASDAQ:GLBE - Get Free Report) was upgraded by research analysts at BMO Capital Markets to a "strong-buy" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts also recently issued reports on GLBE. Bank of America assumed 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 on the stock. Morgan Stanley reiterated an "overweight" rating on shares of Global-e Online in a research report on Thursday, February 19th. UBS Group reduced their price target on shares of Global-e Online from $52.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, March 31st. KeyCorp reduced their price target on shares of Global-e Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a research report on Thursday, February 19th. Finally, Weiss Ratings upgraded shares of Global-e Online from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $47.15.

Global-e Online Stock Performance

Shares of NASDAQ:GLBE opened at $32.85 on Tuesday. Global-e Online has a 52 week low of $27.80 and a 52 week high of $43.21. The company's fifty day moving average is $33.00 and its 200-day moving average is $35.72. The company has a market capitalization of $5.58 billion, a PE ratio of 88.78 and a beta of 1.28.

Insider Buying and Selling

In related news, President Nir Debbi sold 8,332 shares of the company's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $34.51, for a total transaction of $287,537.32. Following the transaction, the president owned 3,897,506 shares in the company, valued at $134,502,932.06. This represents a 0.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amir Schlachet sold 16,666 shares of the business's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $34.45, for a total value of $574,143.70. Following the sale, the chief executive officer directly owned 3,562,787 shares of the company's stock, valued at $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 138,543 shares of company stock worth $4,647,696 in the last 90 days. Corporate insiders own 11.60% of the company's stock.

Institutional Trading of Global-e Online

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in Global-e Online during the 4th quarter worth about $39,000. IFP Advisors Inc raised its holdings in Global-e Online by 73.3% during the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company's stock worth $38,000 after purchasing an additional 448 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Global-e Online by 67.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company's stock worth $47,000 after purchasing an additional 528 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Global-e Online by 780.7% during the 2nd 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 bought a new stake in Global-e Online during the 4th quarter worth about $72,000. 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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