Global-e Online (NASDAQ:GLBE) Stock Rating Upgraded by Wall Street Zen
by Mitch Edgeman · The Markets DailyGlobal-e Online (NASDAQ:GLBE – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday.
A number of other equities analysts have also issued reports on GLBE. Morgan Stanley restated an “overweight” rating on shares of Global-e Online in a research note on Thursday, February 19th. Weiss Ratings upgraded shares of Global-e Online from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Friday. Needham & Company LLC increased their price target on Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Truist Financial lowered their target price on Global-e Online from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Thursday, February 26th. Finally, KeyCorp dropped their target price on Global-e Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $47.80.
Check Out Our Latest Analysis on GLBE
Global-e Online Stock Performance
Shares of GLBE stock opened at $28.64 on Friday. Global-e Online has a fifty-two week low of $26.64 and a fifty-two week high of $43.21. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 77.41 and a beta of 1.24. The stock’s 50-day simple moving average is $34.26 and its 200-day simple moving average is $36.27.
Insider Buying and Selling
In other news, COO Shahar Tamari sold 16,666 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $33.81, for a total transaction of $563,477.46. Following the sale, the chief operating officer directly owned 3,419,745 shares of the company’s stock, valued at $115,621,578.45. This represents a 0.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Nir Debbi sold 8,332 shares of Global-e Online stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $34.51, for a total value of $287,537.32. Following the completion of the transaction, the president owned 3,897,506 shares of the company’s stock, valued at approximately $134,502,932.06. This represents a 0.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 41,664 shares of company stock valued at $1,425,158. Corporate insiders own 11.60% of the company’s stock.
Institutional Trading of Global-e Online
Several institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new position in shares of Global-e Online during the 4th quarter worth approximately $39,000. IFP Advisors Inc lifted 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 buying an additional 448 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Global-e Online by 67.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock valued at $47,000 after acquiring an additional 528 shares during the period. Virtus Advisers LLC purchased a new stake in Global-e Online in the 2nd quarter worth $47,000. Finally, Tower Research Capital LLC TRC increased its holdings in Global-e Online by 780.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock worth $61,000 after acquiring 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.