Global-e Online Ltd. (NASDAQ:GLBE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Global-e Online Ltd. (NASDAQ:GLBE) has earned an average rating of “Moderate Buy” from the thirteen ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $49.9091.

Several research firms have recently issued reports on GLBE. Benchmark restated a “buy” rating on shares of Global-e Online in a report on Wednesday. Piper Sandler upped their price target on shares of Global-e Online from $42.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. Needham & Company LLC raised their price objective on shares of Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Global-e Online in a research note on Monday. Finally, Truist Financial set a $41.00 price objective on shares of Global-e Online in a research report on Thursday, December 11th.

Institutional Trading of Global-e Online

Several institutional investors and hedge funds have recently bought and sold shares of the stock. IFP Advisors Inc increased its stake 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. Main Management ETF Advisors LLC boosted its stake in Global-e Online by 1.7% in the second quarter. Main Management ETF Advisors LLC now owns 30,053 shares of the company’s stock valued at $1,008,000 after acquiring an additional 492 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Global-e Online by 67.2% during the first 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. Sterling Investment Advisors Ltd. boosted its stake in Global-e Online by 1.1% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 55,500 shares of the company’s stock worth $1,861,000 after purchasing an additional 600 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Global-e Online by 28.2% during the third quarter. PNC Financial Services Group Inc. now owns 2,954 shares of the company’s stock worth $106,000 after buying an additional 649 shares during the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Global-e Online Stock Down 2.3%

Shares of Global-e Online stock opened at $40.15 on Friday. Global-e Online has a 52 week low of $26.64 and a 52 week high of $63.69. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 1,338.88 and a beta of 1.24. The stock’s 50-day simple moving average is $37.10 and its 200-day simple moving average is $35.02.

Global-e Online (NASDAQ:GLBE) last issued its quarterly earnings data on Wednesday, November 19th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Global-e Online had a return on equity of 0.81% and a net margin of 0.82%.The firm had revenue of $220.78 million during the quarter, compared to analyst estimates of $217.95 million. During the same quarter last year, the business posted ($0.13) earnings per share. The business’s quarterly revenue was up 25.5% compared to the same quarter last year. On average, equities analysts expect that Global-e Online will post 0.25 earnings per share for the current year.

Global-e Online declared that its Board of Directors has authorized a stock buyback program on Thursday, September 4th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

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.