Global-e Online (NASDAQ:GLBE – Get Free Report) had its price target increased by investment analysts at Truist Financial from $41.00 to $47.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 20.46% from the company’s current price.
Other equities analysts have also issued research reports about the stock. Needham & Company LLC restated a “buy” rating on shares of Global-e Online in a report on Wednesday, May 27th. Raymond James Financial reissued an “outperform” rating and set a $48.00 target price on shares of Global-e Online in a research note on Thursday, August 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $48.00 price target on shares of Global-e Online in a report on Wednesday, August 12th. Weiss Ratings raised Global-e Online from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Finally, Morgan Stanley raised their price objective on shares of Global-e Online from $44.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Global-e Online presently has an average rating of “Moderate Buy” and a consensus target price of $47.69.
Get Our Latest Research Report on Global-e Online
Global-e Online Stock Down 2.1%
Global-e Online (NASDAQ:GLBE – Get Free Report) last released its earnings results on Tuesday, June 30th. The company reported $0.37 earnings per share for the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. The business had revenue of $299.00 million during the quarter. Research analysts expect that Global-e Online will post 1.13 earnings per share for the current fiscal year.
Insider Buying and Selling at Global-e Online
In other news, COO Shahar Tamari sold 24,999 shares of Global-e Online stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $41.63, for a total transaction of $1,040,708.37. Following the sale, the chief operating officer directly owned 3,856,689 shares in the company, valued at $160,553,963.07. The trade was a 0.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amir Schlachet sold 81,556 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $42.30, for a total value of $3,449,818.80. Following the transaction, the chief executive officer owned 3,766,730 shares of the company’s stock, valued at $159,332,679. The trade was a 2.12% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 659,496 shares of company stock worth $25,790,295. Insiders own 11.60% of the company’s stock.
Institutional Investors Weigh In On Global-e Online
Hedge funds and other institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP raised its stake in shares of Global-e Online by 28.1% during the 2nd quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company’s stock valued at $287,397,000 after purchasing an additional 1,816,606 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Global-e Online by 68.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock worth $230,842,000 after buying an additional 2,387,242 shares during the last quarter. Contour Asset Management LLC grew its position in Global-e Online by 4.6% in the fourth quarter. Contour Asset Management LLC now owns 4,842,069 shares of the company’s stock worth $190,342,000 after acquiring an additional 211,034 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Global-e Online by 3,399.9% during the 2nd quarter. California State Teachers Retirement System now owns 4,066,709 shares of the company’s stock valued at $141,237,000 after buying an additional 3,950,515 shares in the last quarter. Finally, Arohi Asset Management PTE Ltd. lifted its holdings in shares of Global-e Online by 0.6% in the 4th quarter. Arohi Asset Management PTE Ltd. now owns 3,780,304 shares of the company’s stock worth $148,604,000 after acquiring an additional 23,213 shares during the last quarter. Institutional investors own 94.60% of the company’s stock.
About Global-e Online
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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