Global-e Online Ltd. (NASDAQ:GLBE) Receives $47.80 Average PT from Analysts

Global-e Online Ltd. (NASDAQ:GLBE) has received a consensus rating of “Moderate Buy” from the thirteen analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $47.80.

Several brokerages have recently issued reports on GLBE. Needham & Company LLC upped their target price on shares of Global-e Online from $40.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. KeyCorp dropped their price target on 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. Morgan Stanley reissued an “overweight” rating on shares of Global-e Online in a research note on Thursday, February 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Global-e Online in a research report on Monday, December 29th. Finally, Benchmark raised their price objective on Global-e Online from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 19th.

Insider Activity at Global-e Online

In other Global-e Online news, COO Shahar Tamari sold 16,666 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $33.81, for a total transaction 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. The trade was a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Nir Debbi sold 8,332 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $34.51, for a total transaction of $287,537.32. Following the completion of the sale, the president directly owned 3,897,506 shares in the company, valued at approximately $134,502,932.06. This represents a 0.21% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 41,664 shares of company stock worth $1,425,158. Company insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On Global-e Online

A number of large investors have recently made changes to their positions in the company. Vitruvian Partners LLP boosted its position in shares of Global-e Online by 23.1% during the third quarter. Vitruvian Partners LLP now owns 172,442 shares of the company’s stock valued at $6,167,000 after buying an additional 32,405 shares during the period. Penserra Capital Management LLC grew its stake in shares of Global-e Online by 16.1% during the third quarter. Penserra Capital Management LLC now owns 127,667 shares of the company’s stock valued at $4,564,000 after buying an additional 17,676 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Global-e Online by 50.5% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 775,000 shares of the company’s stock worth $27,714,000 after buying an additional 260,000 shares during the period. Nordea Investment Management AB purchased a new stake in shares of Global-e Online in the third quarter worth approximately $7,838,000. Finally, Brown Capital Management LLC lifted its stake in shares of Global-e Online by 10.0% during the 3rd quarter. Brown Capital Management LLC now owns 2,389,842 shares of the company’s stock worth $85,461,000 after acquiring an additional 216,304 shares during the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-e Online Stock Up 1.4%

Global-e Online stock opened at $32.14 on Monday. Global-e Online has a 52-week low of $26.64 and a 52-week high of $43.21. The firm’s fifty day moving average is $34.76 and its 200 day moving average is $36.43. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 86.86 and a beta of 1.24.

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.