Global-e Online (NASDAQ:GLBE) Given New $42.00 Price Target at Truist Financial

Global-e Online (NASDAQ:GLBE) had its target price lowered by investment analysts at Truist Financial from $43.00 to $42.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price points to a potential upside of 16.14% from the company’s current price.

Several other brokerages also recently commented on GLBE. Needham & Company LLC lifted their target price on shares of Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Zacks Research raised Global-e Online from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 19th. Wall Street Zen raised Global-e Online from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Bank of America reiterated a “buy” rating on shares of Global-e Online in a report on Wednesday, February 18th. Finally, Morgan Stanley restated an “overweight” rating on shares of Global-e Online in a research note on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $47.80.

Global-e Online Stock Up 3.1%

GLBE stock traded up $1.07 during midday trading on Thursday, hitting $36.16. 72,866 shares of the company traded hands, compared to its average volume of 1,854,798. Global-e Online has a twelve month low of $26.64 and a twelve month high of $44.20. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 97.55 and a beta of 1.24. The business has a 50 day simple moving average of $36.93 and a 200-day simple moving average of $36.22.

Institutional Trading of Global-e Online

Institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Global-e Online during the fourth quarter worth about $39,000. IFP Advisors Inc raised its holdings in Global-e Online by 73.3% during the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock worth $38,000 after buying an additional 448 shares during the period. Geneos Wealth Management Inc. raised its holdings in Global-e Online by 67.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after buying an additional 528 shares during the period. Virtus Advisers LLC bought a new position in Global-e Online in the second quarter valued at approximately $47,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of 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 valued at $61,000 after buying an additional 1,616 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.

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.