Global-e Online Ltd. (NASDAQ:GLBE) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Global-e Online Ltd. (NASDAQ:GLBE) have been assigned an average rating of “Moderate Buy” from the thirteen research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $47.80.

A number of equities analysts have recently weighed in on the company. Needham & Company LLC increased their price target on Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Morgan Stanley reaffirmed an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Global-e Online in a research note on Monday, December 29th. KeyCorp dropped their price target 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. Finally, Wall Street Zen downgraded shares of Global-e Online from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st.

Global-e Online Stock Down 6.4%

GLBE stock opened at $28.93 on Monday. Global-e Online has a 52-week low of $26.64 and a 52-week high of $43.21. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 78.19 and a beta of 1.24. The business has a fifty day moving average of $34.44 and a two-hundred day moving average of $36.34.

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 that occurred on Wednesday, March 18th. The stock was sold at an average price of $33.81, for a total value of $563,477.46. Following the sale, the chief operating officer owned 3,419,745 shares of the company’s stock, valued at $115,621,578.45. The trade was a 0.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Amir Schlachet sold 16,666 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $34.45, for a total value of $574,143.70. Following the completion of the sale, the chief executive officer directly owned 3,562,787 shares in the company, valued at approximately $122,738,012.15. The trade was a 0.47% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 41,664 shares of company stock worth $1,425,158. Insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On Global-e Online

Several hedge funds have recently bought and sold shares of GLBE. Royal Bank of Canada grew its position in Global-e Online by 87.4% in the 1st quarter. Royal Bank of Canada now owns 75,286 shares of the company’s stock valued at $2,684,000 after acquiring an additional 35,120 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Global-e Online by 17.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,654 shares of the company’s stock worth $1,948,000 after purchasing an additional 8,239 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of 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 purchasing an additional 528 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its position in shares of Global-e Online by 32.6% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 23,904 shares of the company’s stock worth $802,000 after purchasing an additional 5,882 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its stake in shares of Global-e Online by 33.9% in the second quarter. TD Waterhouse Canada Inc. now owns 7,695 shares of the company’s stock valued at $253,000 after purchasing an additional 1,950 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.

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.