Global-e Online (NASDAQ:GLBE – Get Free Report) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.
Other research analysts also recently issued research reports about the company. The Goldman Sachs Group reissued a “buy” rating on shares of Global-e Online in a report on Wednesday, August 12th. Citigroup restated a “market outperform” rating on shares of Global-e Online in a report on Thursday, August 13th. Raymond James Financial reaffirmed an “outperform” rating and issued a $48.00 target price on shares of Global-e Online in a research report on Thursday, August 13th. Jefferies Financial Group reiterated a “buy” rating and set a $48.00 target price on shares of Global-e Online in a research note on Wednesday, August 12th. Finally, Morgan Stanley lifted their price target on shares of Global-e Online from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Global-e Online presently has a consensus rating of “Moderate Buy” and an average price target of $47.69.
Check Out Our Latest Analysis on GLBE
Global-e Online Price Performance
Global-e Online (NASDAQ:GLBE – Get Free Report) last announced its earnings results on Tuesday, June 30th. The company reported $0.37 earnings per share for the quarter. Global-e Online had a return on equity of 16.70% and a net margin of 13.87%.The company had revenue of $299.00 million during the quarter. On average, sell-side analysts anticipate that Global-e Online will post 1.23 EPS for the current year.
Insider Transactions at Global-e Online
In related news, CEO Amir Schlachet sold 100,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was 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 directly owned 3,965,422 shares of the company’s stock, valued at $167,340,808.40. The trade was a 2.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Shahar Tamari sold 28,623 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $36.02, for a total value of $1,031,000.46. Following the completion of the sale, the chief operating officer directly owned 3,956,685 shares of the company’s stock, valued at approximately $142,519,793.70. This represents a 0.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 659,496 shares of company stock valued at $25,790,295 over the last quarter. Insiders own 11.60% of the company’s stock.
Institutional Investors Weigh In On Global-e Online
Several institutional investors and hedge funds have recently made changes to their positions in GLBE. IFP Advisors Inc raised its position in shares of Global-e Online by 73.3% during the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after acquiring an additional 448 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Global-e Online in the fourth quarter worth $39,000. Geneos Wealth Management Inc. boosted its holdings in Global-e Online by 67.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after purchasing an additional 528 shares during the period. Tower Research Capital LLC TRC increased its stake in Global-e Online by 780.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock valued at $61,000 after purchasing an additional 1,616 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in Global-e Online during the fourth quarter valued at $72,000. 94.60% of the stock is owned by institutional investors and hedge funds.
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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