Global-e Online (NASDAQ:GLBE) Upgraded to "Buy" at Truist Financial

Key Points

• Truist Financial upgraded Global-e Online from “hold” to “buy” and set a $39 price target, implying about 20% upside from the stock’s current price.
• The company’s latest quarterly results were solid, with EPS of $0.27 beating estimates and revenue up 32.8% year over year to $252.09 million.
• Despite positive analyst sentiment overall, insider selling has continued, including recent sales by the COO and CEO; insiders sold 248,220 shares over the last 90 days.

Global-e Online (NASDAQ:GLBE - Get Free Report) was upgraded by equities research analysts at Truist Financial from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm currently has a $39.00 target price on the stock. Truist Financial's target price suggests a potential upside of 20.44% from the company's current price.

Several other brokerages also recently weighed in on GLBE. Zacks Research cut shares of Global-e Online from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 3rd. Needham & Company LLC reissued a "buy" rating on shares of Global-e Online in a research report on Wednesday, May 27th. Wall Street Zen cut shares of Global-e Online from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. KeyCorp dropped their price objective on Global-e Online from $45.00 to $40.00 and set an "overweight" rating for the company in a report on Thursday, February 19th. Finally, Jefferies Financial Group restated a "buy" rating and set a $40.00 price objective on shares of Global-e Online in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Global-e Online presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.33.

Global-e Online Trading Up 0.7%

Shares of GLBE opened at $32.38 on Wednesday. Global-e Online has a twelve month low of $26.84 and a twelve month high of $41.94. The stock's 50 day moving average is $31.03 and its two-hundred day moving average is $34.72. The firm has a market capitalization of $5.50 billion, a PE ratio of 49.82 and a beta of 1.16.

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

Insider Buying and Selling at Global-e Online

In other Global-e Online news, COO Shahar Tamari sold 7,874 shares of the business's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $33.09, for a total transaction of $260,550.66. Following the completion of the sale, the chief operating officer owned 4,017,209 shares in the company, valued at $132,929,445.81. The trade was a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Amir Schlachet sold 16,666 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $33.34, for a total transaction of $555,644.44. Following the sale, the chief executive officer owned 4,216,724 shares of the company's stock, valued at approximately $140,585,578.16. The trade was a 0.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 248,220 shares of company stock worth $8,183,640 over the last 90 days. Insiders own 11.60% of the company's stock.

Hedge Funds Weigh In On Global-e Online

Large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new position in Global-e Online in the fourth quarter worth about $39,000. IFP Advisors Inc raised its holdings in shares of Global-e Online by 73.3% during the third quarter. IFP Advisors Inc now owns 1,059 shares of the company's stock valued at $38,000 after buying an additional 448 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Global-e Online by 67.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company's stock valued at $47,000 after buying an additional 528 shares during the last quarter. 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 valued at $61,000 after buying an additional 1,616 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of Global-e Online during the fourth quarter valued at approximately $72,000. Institutional investors 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.

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