Meitav Investment House Ltd. Raises Position in Global-e Online Ltd. $GLBE

Meitav Investment House Ltd. raised its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 704.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,794 shares of the company’s stock after buying an additional 87,394 shares during the quarter. Meitav Investment House Ltd. owned about 0.06% of Global-e Online worth $3,597,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC bought a new stake in shares of Global-e Online during the 3rd quarter valued at about $321,000. Stephens Investment Management Group LLC increased its holdings in shares of Global-e Online by 8.3% in the 3rd quarter. Stephens Investment Management Group LLC now owns 254,869 shares of the company’s stock worth $9,114,000 after buying an additional 19,449 shares during the last quarter. Nordea Investment Management AB purchased a new stake in shares of Global-e Online during the 3rd quarter valued at $7,838,000. Yelin Lapidot Holdings Management Ltd. lifted its holdings in shares of Global-e Online by 8.3% during the 3rd quarter. Yelin Lapidot Holdings Management Ltd. now owns 837,183 shares of the company’s stock worth $29,938,000 after acquiring an additional 64,000 shares during the last quarter. Finally, Summit Creek Advisors LLC grew its position in Global-e Online by 12.3% in the third quarter. Summit Creek Advisors LLC now owns 305,363 shares of the company’s stock worth $10,920,000 after acquiring an additional 33,331 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on GLBE. Truist Financial set a $41.00 price target on Global-e Online in a research report on Thursday, December 11th. Benchmark reissued a “buy” rating on shares of Global-e Online in a report on Friday. Needham & Company LLC upped their target price on Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Global-e Online in a research report on Monday, December 29th. Finally, Piper Sandler boosted their price objective on shares of Global-e Online from $42.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.91.

Global-e Online Stock Performance

NASDAQ:GLBE opened at $37.50 on Friday. Global-e Online Ltd. has a fifty-two week low of $26.64 and a fifty-two week high of $63.69. The firm has a market cap of $6.36 billion, a PE ratio of 1,250.42 and a beta of 1.24. The business has a 50 day moving average price of $38.91 and a 200-day moving average price of $35.97.

Global-e Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, November 19th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $220.78 million for the quarter, compared to the consensus estimate of $217.95 million. Global-e Online had a net margin of 0.82% and a return on equity of 0.81%. The firm’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.13) earnings per share. Research analysts predict that Global-e Online Ltd. will post 0.25 EPS for the current year.

Global-e Online 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.