Global-e Online's (GLBE) "Overweight" Rating Reiterated at Piper Sandler

Key Points

• Piper Sandler reaffirmed its “Overweight” rating on Global-e Online and set a $48 price target, implying approximately 16.65% upside from the reported share price.
• Analyst sentiment remains broadly positive: 13 analysts rate the stock a Buy, one rates it Hold, and one rates it Sell. MarketBeat reports a consensus rating of “Moderate Buy” and an average price target of $44.83.
• Global-e shares were reported down 2.8% and opened at $41.15, while insiders sold 456,637 shares worth about $16.98 million over the prior 90 days; institutional investors own 94.6% of the company.

Global-e Online (NASDAQ:GLBE - Get Free Report)'s stock had its "overweight" rating reissued by research analysts at Piper Sandler in a research report issued on Tuesday,Benzinga reports. They currently have a $48.00 price objective on the stock. Piper Sandler's price objective would indicate a potential upside of 16.65% from the company's current price.

A number of other equities research analysts have also weighed in on GLBE. Wall Street Zen lowered shares of Global-e Online from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Needham & Company LLC reiterated a "buy" rating on shares of Global-e Online in a research report on Wednesday, May 27th. Jefferies Financial Group reissued a "buy" rating and issued a $40.00 price target on shares of Global-e Online in a research note on Wednesday, May 13th. Morgan Stanley cut their price target on shares of Global-e Online from $43.00 to $37.00 and set an "overweight" rating for the company in a research report on Thursday, May 14th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Global-e Online in a research note on Wednesday, August 5th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Global-e Online currently has an average rating of "Moderate Buy" and a consensus price target of $44.83.

Global-e Online Trading Down 2.8%

Shares of NASDAQ GLBE opened at $41.15 on Tuesday. The stock's 50-day moving average is $36.10 and its 200 day moving average is $33.88. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of 63.31 and a beta of 1.03. Global-e Online has a 1-year low of $26.84 and a 1-year high of $42.51.

Insider Transactions at Global-e Online

In other Global-e Online news, CEO Amir Schlachet sold 100,000 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $42.20, for a total transaction of $4,220,000.00. Following the completion of the transaction, the chief executive officer owned 3,965,422 shares of the company's stock, valued at $167,340,808.40. This represents a 2.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Shahar Tamari sold 28,623 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $36.02, for a total value of $1,031,000.46. Following the completion of the sale, the chief operating officer owned 3,956,685 shares of the company's stock, valued at approximately $142,519,793.70. This trade represents a 0.72% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 456,637 shares of company stock worth $16,981,235. 11.60% of the stock is owned by company insiders.

Institutional Trading of Global-e Online

Large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its position in shares of Global-e Online by 105.3% during the fourth quarter. Legal & General Group Plc now owns 578,139 shares of the company's stock valued at $22,727,000 after acquiring an additional 296,466 shares in the last quarter. Annex Advisory Services LLC lifted its position in Global-e Online by 64.4% in the 4th quarter. Annex Advisory Services LLC now owns 640,016 shares of the company's stock valued at $25,159,000 after acquiring an additional 250,625 shares in the last quarter. Vitruvian Partners LLP boosted its stake in Global-e Online by 21.9% during the 4th quarter. Vitruvian Partners LLP now owns 210,209 shares of the company's stock valued at $8,263,000 after purchasing an additional 37,767 shares during the last quarter. Empowered Funds LLC purchased a new stake in Global-e Online during the 1st quarter valued at $1,144,000. Finally, 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 purchasing an additional 38,869 shares in the last quarter. 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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