UBS Group Cuts Global-e Online (NASDAQ:GLBE) Price Target to $50.00

Global-e Online (NASDAQ:GLBE) had its price objective decreased by UBS Group from $52.00 to $50.00 in a research report report published on Tuesday,Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other analysts also recently issued reports on GLBE. Needham & Company LLC lifted their price objective 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. Wall Street Zen raised Global-e Online from a “hold” rating to a “buy” rating in a research note on Sunday, March 29th. KeyCorp lowered their price target on Global-e Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Weiss Ratings raised Global-e Online from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday, March 27th. Finally, Truist Financial cut their price objective on Global-e Online from $43.00 to $42.00 and set a “hold” rating for the company in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Global-e Online has a consensus rating of “Moderate Buy” and a consensus target price of $47.58.

Global-e Online Price Performance

GLBE stock opened at $31.18 on Tuesday. Global-e Online has a one year low of $26.64 and a one year high of $43.21. The stock has a market cap of $5.29 billion, a PE ratio of 84.27 and a beta of 1.28. The firm has a 50 day simple moving average of $33.93 and a two-hundred day simple moving average of $36.17.

Insider Activity

In other news, President Nir Debbi sold 4,166 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $31.26, for a total value of $130,229.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amir Schlachet sold 16,666 shares of the 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 transaction, the chief executive officer directly owned 3,562,787 shares in the company, valued at approximately $122,738,012.15. This represents a 0.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 45,830 shares of company stock valued at $1,555,388. Corporate insiders own 11.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Global-e Online in the fourth quarter worth about $39,000. IFP Advisors Inc boosted 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 valued at $38,000 after acquiring an additional 448 shares during the period. Geneos Wealth Management Inc. grew its position 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 acquiring an additional 528 shares during the last quarter. Virtus Advisers LLC bought a new position in Global-e Online during the 2nd quarter worth approximately $47,000. Finally, Tower Research Capital LLC TRC increased its stake 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 purchasing an additional 1,616 shares during the period. 94.60% of the stock is owned by institutional investors.

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.