UBS Group Has Lowered Expectations for Global-e Online (NASDAQ:GLBE) Stock Price
by Danessa Lincoln · The Markets DailyGlobal-e Online (NASDAQ:GLBE – Get Free Report) had its price objective cut by equities research analysts at UBS Group from $52.00 to $50.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective would indicate a potential upside of 62.07% from the stock’s current price.
Other research analysts have also issued reports about the stock. Piper Sandler restated an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. Bank of America started coverage on Global-e Online in a research note on Tuesday. They set a “buy” rating and a $43.00 price target on the stock. Zacks Research upgraded Global-e Online from a “hold” rating to a “strong-buy” rating in a report on Friday, December 19th. Weiss Ratings raised Global-e Online from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday. Finally, KeyCorp reduced their price objective on Global-e Online from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.58.
Read Our Latest Analysis on GLBE
Global-e Online Stock Up 7.7%
GLBE stock traded up $2.21 on Tuesday, reaching $30.85. 1,715,503 shares of the company’s stock were exchanged, compared to its average volume of 1,599,003. The stock has a fifty day moving average of $34.26 and a 200-day moving average of $36.27. The firm has a market cap of $5.24 billion, a PE ratio of 83.38 and a beta of 1.24. Global-e Online has a twelve month low of $26.64 and a twelve month high of $43.21.
Insider Buying and Selling at Global-e Online
In other Global-e Online news, President Nir Debbi sold 8,332 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $34.51, for a total transaction of $287,537.32. Following the transaction, the president owned 3,897,506 shares of the company’s stock, valued at $134,502,932.06. This represents a 0.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Shahar Tamari sold 16,666 shares of the stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $33.81, for a total value of $563,477.46. Following the transaction, the chief operating officer owned 3,419,745 shares in the company, valued at $115,621,578.45. This trade represents a 0.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 41,664 shares of company stock worth $1,425,158. Insiders own 11.60% of the company’s stock.
Hedge Funds Weigh In On Global-e Online
A number of institutional investors have recently made changes to their positions in the business. IFP Advisors Inc boosted 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 valued at $38,000 after acquiring an additional 448 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Global-e Online in the 4th quarter valued at about $39,000. Virtus Advisers LLC acquired a new stake in shares of Global-e Online in the 2nd quarter valued at about $47,000. Geneos Wealth Management Inc. lifted its position in shares of Global-e Online by 67.2% during 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 last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Global-e Online by 780.7% in the second 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. 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.