Bank of America Begins Coverage on Global-e Online (NASDAQ:GLBE)

Investment analysts at Bank of America assumed coverage on shares of Global-e Online (NASDAQ:GLBE) in a note issued to investors on Tuesday. The firm set a “buy” rating and a $43.00 price target on the stock. Bank of America‘s price target would indicate a potential upside of 50.14% from the stock’s previous close.

GLBE has been the subject of a number of other research reports. KeyCorp lowered their price objective on shares of Global-e Online from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Wall Street Zen upgraded shares of Global-e Online from a “hold” rating to a “buy” rating in a report on Sunday. Weiss Ratings raised shares of Global-e Online from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Friday. Morgan Stanley restated an “overweight” rating on shares of Global-e Online in a report on Thursday, February 19th. Finally, Needham & Company LLC boosted their target price on Global-e Online from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.36.

Global-e Online Stock Down 1.0%

NASDAQ:GLBE opened at $28.64 on Tuesday. The stock’s fifty day simple moving average is $34.26 and its 200-day simple moving average is $36.27. The firm has a market capitalization of $4.86 billion, a P/E ratio of 77.41 and a beta of 1.24. Global-e Online has a 12-month low of $26.64 and a 12-month high of $43.21.

Insider Buying and Selling

In other Global-e Online news, COO Shahar Tamari sold 16,666 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $33.81, for a total transaction of $563,477.46. Following the completion of the sale, the chief operating officer owned 3,419,745 shares of the company’s stock, valued at $115,621,578.45. This trade represents a 0.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amir Schlachet sold 16,666 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $34.45, for a total transaction of $574,143.70. Following the completion of the transaction, the chief executive officer owned 3,562,787 shares in the company, valued at approximately $122,738,012.15. This represents a 0.47% 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 have sold 41,664 shares of company stock valued at $1,425,158. 11.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Global-e Online

Large investors have recently made changes to their positions in the company. IFP Advisors Inc lifted 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 purchasing an additional 448 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Global-e Online during the fourth quarter worth about $39,000. Virtus Advisers LLC acquired a new stake in Global-e Online in the 2nd quarter worth about $47,000. Geneos Wealth Management Inc. grew its position in shares of 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 purchasing an additional 528 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position 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 in the last quarter. Institutional investors 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.