BMO Capital Markets Upgrades Global-e Online (NASDAQ:GLBE) to “Strong-Buy”

Global-e Online (NASDAQ:GLBE) was upgraded by equities research analysts at BMO Capital Markets to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Benchmark upped their price target on Global-e Online from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. UBS Group lowered their price target on Global-e Online from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, March 31st. Wall Street Zen raised Global-e Online from a “hold” rating to a “buy” rating in a research note on Sunday, March 29th. Morgan Stanley reaffirmed an “overweight” rating on shares of Global-e Online in a research note on Thursday, February 19th. Finally, Truist Financial lowered their price target on Global-e Online from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $47.15.

Global-e Online Trading Up 1.1%

Shares of NASDAQ:GLBE opened at $32.85 on Tuesday. The stock has a market capitalization of $5.58 billion, a P/E ratio of 88.78 and a beta of 1.28. Global-e Online has a 1-year low of $27.80 and a 1-year high of $43.21. The business has a 50-day moving average price of $33.00 and a two-hundred day moving average price of $35.72.

Insider Buying and Selling

In related news, CEO Amir Schlachet sold 16,666 shares of the stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $33.65, for a total transaction of $560,810.90. Following the completion of the sale, the chief executive officer directly owned 3,984,550 shares of the company’s stock, valued at approximately $134,080,107.50. This represents a 0.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Shahar Tamari sold 5,190 shares of the stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $33.06, for a total value of $171,581.40. Following the sale, the chief operating officer directly owned 3,785,035 shares of the company’s stock, valued at approximately $125,133,257.10. The trade was a 0.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 138,543 shares of company stock valued at $4,647,696. 11.60% of the stock is owned by corporate insiders.

Institutional Trading of Global-e Online

Large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new stake in Global-e Online during the 4th quarter worth approximately $39,000. IFP Advisors Inc increased its stake in Global-e Online by 73.3% during the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock worth $38,000 after purchasing an additional 448 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Global-e Online by 67.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after purchasing an additional 528 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Global-e Online by 780.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock worth $61,000 after purchasing an additional 1,616 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in Global-e Online during the 4th quarter worth approximately $72,000. 94.60% of the stock is owned by institutional investors.

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.