Global-e Online (NASDAQ:GLBE) Price Target Raised to $41.00

by · The Markets Daily

Global-e Online (NASDAQ:GLBE – Free Report) had its price target boosted by Truist Financial from $39.00 to $41.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on GLBE. Needham & Company LLC reaffirmed a “buy” rating on shares of Global-e Online in a research note on Wednesday, May 27th. Bank of America initiated coverage on shares of Global-e Online in a research report on Tuesday, March 31st. They issued a “buy” rating and a $43.00 price objective on the stock. Zacks Research cut shares of Global-e Online from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. UBS Group decreased their target price on shares of Global-e Online from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Finally, Benchmark reiterated a “buy” rating on shares of Global-e Online in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Get Our Latest Analysis on Global-e Online

Global-e Online Stock Performance

Shares of Global-e Online stock opened at $36.21 on Friday. The business’s 50 day simple moving average is $33.85 and its 200 day simple moving average is $33.78. Global-e Online has a 52-week low of $26.84 and a 52-week high of $41.94. The firm has a market cap of $6.15 billion, a PE ratio of 55.71 and a beta of 1.06.

Insider Buying and Selling

In other Global-e Online news, President Nir Debbi sold 9,233 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $33.70, for a total value of $311,152.10. Following the completion of the sale, the president owned 4,559,466 shares in the company, valued at $153,654,004.20. This trade represents a 0.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Amir Schlachet sold 58,331 shares of Global-e Online stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $36.21, for a total transaction of $2,112,165.51. Following the completion of the transaction, the chief executive officer directly owned 4,141,727 shares of the company’s stock, valued at approximately $149,971,934.67. This trade represents a 1.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 319,914 shares of company stock worth $10,989,302. Insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On Global-e Online

A number of institutional investors and hedge funds have recently modified their holdings of GLBE. Wasatch Advisors LP grew its holdings in Global-e Online by 28.1% during the second quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company’s stock worth $287,397,000 after purchasing an additional 1,816,606 shares during the period. Price T Rowe Associates Inc. MD increased its position in Global-e Online by 68.5% during the fourth 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 increased its position in Global-e Online by 4.6% during the fourth quarter. Contour Asset Management LLC now owns 4,842,069 shares of the company’s stock worth $190,342,000 after buying an additional 211,034 shares during the last quarter. Arohi Asset Management PTE Ltd. raised its stake in Global-e Online by 0.6% in the fourth quarter. Arohi Asset Management PTE Ltd. now owns 3,780,304 shares of the company’s stock valued at $148,604,000 after buying an additional 23,213 shares during the period. Finally, Brown Capital Management LLC raised its stake in Global-e Online by 0.6% in the fourth quarter. Brown Capital Management LLC now owns 2,404,856 shares of the company’s stock valued at $94,535,000 after buying an additional 15,014 shares during the period. 94.60% of the stock is owned by institutional investors.

Global-e Online Company Profile

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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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