Global-e Online (NASDAQ:GLBE – Free Report) had its target price increased by Morgan Stanley from $44.00 to $46.00 in a report issued on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.
A number of other equities research analysts have also recently commented on GLBE. The Goldman Sachs Group restated a “buy” rating on shares of Global-e Online in a report on Wednesday. Benchmark reiterated a “buy” rating on shares of Global-e Online in a report on Wednesday, May 27th. Zacks Research cut shares of Global-e Online from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Raymond James Financial reissued an “outperform” rating and set a $48.00 price objective on shares of Global-e Online in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upgraded Global-e Online to an “accumulate” rating in a research note on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.23.
Check Out Our Latest Stock Report on GLBE
Global-e Online Stock Performance
Global-e Online (NASDAQ:GLBE – Get Free Report) last released its quarterly earnings data 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 company had revenue of $299.00 million during the quarter. On average, equities research analysts forecast that Global-e Online will post 1.13 EPS for the current year.
Insiders Place Their Bets
In related news, CEO Amir Schlachet sold 100,000 shares of Global-e Online stock in a transaction on Friday, August 7th. The shares were sold at an average price of $42.20, for a total value of $4,220,000.00. Following the completion of the sale, the chief executive officer owned 3,965,422 shares of the company’s stock, valued at approximately $167,340,808.40. This trade represents a 2.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Shahar Tamari sold 28,623 shares of the business’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $36.02, for a total transaction of $1,031,000.46. Following the sale, the chief operating officer owned 3,956,685 shares of the company’s stock, valued at $142,519,793.70. This trade represents a 0.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 473,773 shares of company stock worth $17,707,863. 11.60% of the stock is owned by company insiders.
Institutional Investors Weigh In On Global-e Online
Several hedge funds and other institutional investors have recently made changes to their positions in GLBE. Wasatch Advisors LP raised its holdings in shares of Global-e Online by 231.8% in the 2nd quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company’s stock worth $114,847,000 after acquiring an additional 2,392,124 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in 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 valued at $230,842,000 after acquiring an additional 2,387,242 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Global-e Online by 1,539.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,269,482 shares of the company’s stock valued at $89,213,000 after purchasing an additional 2,131,047 shares during the last quarter. Arohi Asset Management PTE Ltd. boosted its stake in Global-e Online by 91.0% during the 2nd quarter. Arohi Asset Management PTE Ltd. now owns 2,822,884 shares of the company’s stock valued at $94,680,000 after purchasing an additional 1,345,156 shares during the last quarter. Finally, Norges Bank bought a new stake in Global-e Online during the 4th quarter worth approximately $51,104,000. 94.60% of the stock is 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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