Wall Street Zen upgraded shares of Global-e Online (NASDAQ:GLBE – Free Report) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.
A number of other equities research analysts have also weighed in on GLBE. Jefferies Financial Group reaffirmed a “buy” rating and set a $48.00 price target on shares of Global-e Online in a report on Wednesday, August 12th. The Goldman Sachs Group reiterated a “buy” rating on shares of Global-e Online in a report on Wednesday, August 12th. Benchmark restated a “buy” rating on shares of Global-e Online in a research note on Thursday. Needham & Company LLC restated a “buy” rating on shares of Global-e Online in a research note on Wednesday, May 27th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Global-e Online in a research report on Thursday. Thirteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.23.
Check Out Our Latest Stock Report on GLBE
Global-e Online Trading Down 2.8%
Global-e Online (NASDAQ:GLBE – Get Free Report) last posted its earnings results on Tuesday, June 30th. The company reported $0.37 earnings per share (EPS) for the quarter. The business had revenue of $299.00 million during the quarter. Global-e Online had a return on equity of 16.70% and a net margin of 13.87%. Equities research analysts expect that Global-e Online will post 1.13 EPS for the current fiscal year.
Insider Buying and Selling
In other Global-e Online news, COO Shahar Tamari sold 24,999 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $41.59, for a total value of $1,039,708.41. Following the sale, the chief operating officer directly owned 3,881,688 shares in the company, valued at approximately $161,439,403.92. This trade represents a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Amir Schlachet sold 81,556 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $42.30, for a total transaction of $3,449,818.80. Following the transaction, the chief executive officer directly owned 3,766,730 shares of the company’s stock, valued at approximately $159,332,679. This trade represents a 2.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 646,996 shares of company stock valued at $25,126,025. Insiders own 11.60% of the company’s stock.
Institutional Trading of Global-e Online
Hedge funds have recently bought and sold shares of the company. IFP Advisors Inc grew its position 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 buying an additional 448 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Global-e Online in the 4th quarter worth approximately $39,000. Geneos Wealth Management Inc. boosted its holdings in shares of Global-e Online by 67.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock valued at $47,000 after acquiring an additional 528 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Global-e Online by 780.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock valued at $61,000 after acquiring an additional 1,616 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Global-e Online during the fourth quarter valued at approximately $72,000. 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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