Global-e Online Ltd. (NASDAQ:GLBE – Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $31.79, but opened at $33.56. Global-e Online shares last traded at $33.6590, with a volume of 83,177 shares traded.
More Global-e Online News
Here are the key news stories impacting Global-e Online this week:
- Positive Sentiment: Global-e Online announced a new $500 million share repurchase program, which signals confidence in cash flow and could support earnings per share by reducing the share count. Global-e Announces Board Authorization of $500 Million Share Repurchase Program
- Positive Sentiment: The buyback follows completion of roughly 80% of the prior $200 million repurchase plan, reinforcing management’s commitment to returning capital to shareholders. Quiver AI Summary of Global-e Online Ltd. Announces $500 Million Share Repurchase Program
- Neutral Sentiment: Broker commentary and screening articles continue to highlight GLBE’s valuation and analyst upside, but these are not fresh company-specific catalysts. Zacks rising P/E stock screen
- Negative Sentiment: Recent insider sales by CEO Amir Schlachet, President Nir Debbi, and COO Shahar Tamari may raise some caution, since executives have continued trimming shares over the past several weeks. Nir Debbi insider sale filing
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the company. Piper Sandler reissued an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. UBS Group dropped their target price on 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. Truist Financial dropped their target price on Global-e Online from $37.00 to $34.00 and set a “hold” rating on the stock in a research report on Wednesday, May 27th. BMO Capital Markets assumed coverage on Global-e Online in a research report on Tuesday, April 21st. They issued an “outperform” rating and a $42.00 target price on the stock. Finally, Weiss Ratings lowered Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.92.
Global-e Online Stock Performance
The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 51.51 and a beta of 1.16. The company has a 50-day simple moving average of $30.91 and a two-hundred day simple moving average of $34.82.
Global-e Online (NASDAQ:GLBE – Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.09. The firm had revenue of $252.09 million for the quarter, compared to analyst estimates of $250.78 million. Global-e Online had a return on equity of 12.64% and a net margin of 11.37%.The business’s quarterly revenue was up 32.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.11) EPS. As a group, sell-side analysts predict that Global-e Online Ltd. will post 1.12 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, President Nir Debbi sold 9,233 shares of Global-e Online stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $33.70, for a total transaction of $311,152.10. Following the completion of the transaction, the president directly owned 4,559,466 shares in the company, valued at approximately $153,654,004.20. The trade was a 0.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Shahar Tamari sold 25,949 shares of Global-e Online stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $34.79, for a total value of $902,765.71. Following the transaction, the chief operating officer owned 3,790,225 shares of the company’s stock, valued at $131,861,927.75. This represents a 0.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 231,554 shares of company stock valued at $7,645,702 in the last 90 days. 11.60% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in GLBE. IFP Advisors Inc boosted its stake in Global-e Online by 73.3% in the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after purchasing an additional 448 shares during the period. Geneos Wealth Management Inc. boosted its stake in Global-e Online by 67.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock valued at $47,000 after purchasing an additional 528 shares during the period. California State Teachers Retirement System boosted its stake in Global-e Online by 0.5% in the 4th quarter. California State Teachers Retirement System now owns 116,092 shares of the company’s stock valued at $4,564,000 after purchasing an additional 533 shares during the period. Main Management ETF Advisors LLC boosted its stake in Global-e Online by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 52,461 shares of the company’s stock valued at $2,062,000 after purchasing an additional 536 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Global-e Online by 28.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,954 shares of the company’s stock valued at $106,000 after purchasing an additional 649 shares during the period. 94.60% of the stock is currently owned by institutional investors.
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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