Global-e Online (NASDAQ:GLBE) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Wall Street Zen upgraded Global-e Online to “Buy” from “Hold,” while analysts maintain a consensus “Moderate Buy” rating and an average price target of $47.23.
• Global-e Online reported quarterly EPS of $0.37 on revenue of $299 million, with a 13.87% net margin and 16.70% return on equity.
• Institutional investors own 94.6% of the company, although insiders sold 473,773 shares worth approximately $17.7 million over the past quarter.

Global-e Online (NASDAQ:GLBE - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

GLBE has been the topic of a number of other research reports. Raymond James Financial reaffirmed an "outperform" rating and set a $48.00 target price on shares of Global-e Online in a report on Thursday. Deutsche Bank Aktiengesellschaft upgraded Global-e Online to an "accumulate" rating in a report on Wednesday, May 27th. Loop Capital set a $49.00 price target on Global-e Online in a research report on Wednesday. Jefferies Financial Group restated a "buy" rating and set a $48.00 price objective on shares of Global-e Online in a research note on Wednesday. Finally, Needham & Company LLC reaffirmed a "buy" rating on shares of Global-e Online in a report on Wednesday, May 27th. Thirteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $47.23.

Global-e Online Stock Performance

GLBE opened at $42.36 on Friday. The company has a market capitalization of $7.19 billion, a P/E ratio of 49.26 and a beta of 1.03. The company has a 50-day moving average of $36.82 and a 200-day moving average of $34.02. Global-e Online has a 1-year low of $26.84 and a 1-year high of $43.99.

Global-e Online (NASDAQ:GLBE - Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.37 EPS for the quarter. The business had revenue of $299.00 million for the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. As a group, sell-side analysts expect that Global-e Online will post 1.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Global-e Online news, President Nir Debbi sold 14,582 shares of Global-e Online stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $40.11, for a total value of $584,884.02. Following the completion of the transaction, the president directly owned 4,430,285 shares in the company, valued at $177,698,731.35. The trade was a 0.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amir Schlachet sold 16,814 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $42.41, for a total value of $713,081.74. Following the transaction, the chief executive officer directly owned 3,948,286 shares of the company's stock, valued at $167,446,809.26. This trade represents a 0.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 473,773 shares of company stock worth $17,707,863 over the last quarter. 11.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its stake in 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 buying an additional 296,466 shares during the last quarter. Vitruvian Partners LLP grew 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 acquiring an additional 37,767 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Global-e Online during the first quarter worth about $1,144,000. Handelsbanken Fonder AB increased its holdings in shares of 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 acquiring an additional 38,869 shares during the period. Finally, Next Century Growth Investors LLC increased its holdings in shares of 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 acquiring an additional 76,452 shares during the period. Institutional investors and hedge funds own 94.60% of the company's stock.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source