Zacks Research Upgrades Global-e Online (NASDAQ:GLBE) to Strong-Buy

Global-e Online (NASDAQ:GLBE) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other research firms have also weighed in on GLBE. BMO Capital Markets increased their target price on shares of Global-e Online from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Tuesday, August 4th. Truist Financial upped their price objective on shares of Global-e Online from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley raised their price objective on Global-e Online from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Loop Capital set a $49.00 target price on Global-e Online in a report on Wednesday, August 12th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $48.00 target price on shares of Global-e Online in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Global-e Online has an average rating of “Moderate Buy” and an average price target of $47.69.

Global-e Online Trading Down 0.8%

Shares of GLBE opened at $39.13 on Tuesday. The stock has a market cap of $6.64 billion, a P/E ratio of 45.50 and a beta of 1.03. Global-e Online has a 1 year low of $26.84 and a 1 year high of $43.99. The stock’s 50-day moving average price is $38.11 and its two-hundred day moving average price is $34.26.

Global-e Online (NASDAQ:GLBE) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.37 earnings per share for the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. The business had revenue of $299.00 million for the quarter. As a group, equities analysts forecast that Global-e Online will post 1.23 EPS for the current year.

Insider Activity

In related news, COO Shahar Tamari sold 24,999 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $41.63, for a total transaction of $1,040,708.37. Following the completion of the transaction, the chief operating officer owned 3,856,689 shares in the company, valued at approximately $160,553,963.07. This represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Amir Schlachet sold 81,556 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $42.30, for a total transaction of $3,449,818.80. Following the completion of the transaction, the chief executive officer directly owned 3,766,730 shares of the company’s stock, valued at approximately $159,332,679. This trade represents a 2.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 659,496 shares of company stock worth $25,790,295 over the last ninety days. Insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On Global-e Online

Large investors have recently modified their holdings of the business. Wasatch Advisors LP grew its holdings in shares of Global-e Online by 28.1% in the 2nd quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company’s stock valued at $287,397,000 after acquiring an additional 1,816,606 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Global-e Online by 68.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock worth $230,842,000 after acquiring an additional 2,387,242 shares in the last quarter. Contour Asset Management LLC boosted its position in Global-e Online by 4.6% during the fourth quarter. Contour Asset Management LLC now owns 4,842,069 shares of the company’s stock valued at $190,342,000 after purchasing an additional 211,034 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Global-e Online by 3,399.9% during the 2nd quarter. California State Teachers Retirement System now owns 4,066,709 shares of the company’s stock worth $141,237,000 after purchasing an additional 3,950,515 shares during the last quarter. Finally, Arohi Asset Management PTE Ltd. raised its stake in shares of Global-e Online by 0.6% during the 4th quarter. Arohi Asset Management PTE Ltd. now owns 3,780,304 shares of the company’s stock worth $148,604,000 after purchasing an additional 23,213 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

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.