Global-e Online (NASDAQ:GLBE) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Global-e Online (NASDAQ:GLBE) from a buy rating to a hold rating in a research note published on Saturday.

Several other equities research analysts have also weighed in on the company. Weiss Ratings raised Global-e Online from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday, March 27th. Morgan Stanley reissued an “overweight” rating on shares of Global-e Online in a report on Thursday, February 19th. UBS Group decreased their price objective on Global-e Online from $52.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, March 31st. Piper Sandler reissued an “overweight” rating on shares of Global-e Online in a report on Thursday, February 19th. Finally, BMO Capital Markets initiated coverage on Global-e Online in a report on Tuesday, April 21st. They issued an “outperform” rating and a $42.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $46.77.

Global-e Online Stock Performance

Shares of GLBE opened at $29.80 on Friday. The business has a 50-day moving average of $32.66 and a 200 day moving average of $35.57. Global-e Online has a fifty-two week low of $27.80 and a fifty-two week high of $43.21. The firm has a market cap of $5.06 billion, a P/E ratio of 80.54 and a beta of 1.18.

Insiders Place Their Bets

In other Global-e Online news, President Nir Debbi sold 8,332 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $34.51, for a total value of $287,537.32. Following the completion of the transaction, the president owned 3,897,506 shares in the company, valued at $134,502,932.06. This trade represents a 0.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Shahar Tamari sold 25,949 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $34.79, for a total value of $902,765.71. Following the completion of the transaction, the chief operating officer owned 3,790,225 shares of the company’s stock, valued at approximately $131,861,927.75. This represents a 0.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 153,181 shares of company stock worth $5,114,716 in the last quarter. 11.60% of the stock is owned by company insiders.

Institutional Trading of Global-e Online

Several institutional investors and hedge funds have recently modified their holdings of the business. Wasatch Advisors LP raised its holdings in shares of Global-e Online by 34.0% in the 1st quarter. Wasatch Advisors LP now owns 6,458,588 shares of the company’s stock valued at $199,247,000 after acquiring an additional 1,637,482 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Global-e Online by 68.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock valued at $230,842,000 after acquiring an additional 2,387,242 shares in the last quarter. Contour Asset Management LLC raised its holdings in shares of Global-e Online by 4.6% in the 4th quarter. Contour Asset Management LLC now owns 4,842,069 shares of the company’s stock valued at $190,342,000 after acquiring an additional 211,034 shares in the last quarter. Arohi Asset Management PTE Ltd. raised its holdings in shares of Global-e Online by 0.6% in the 4th quarter. Arohi Asset Management PTE Ltd. now owns 3,780,304 shares of the company’s stock valued at $148,604,000 after acquiring an additional 23,213 shares in the last quarter. Finally, Spyglass Capital Management LLC raised its holdings in shares of Global-e Online by 63.0% in the 3rd quarter. Spyglass Capital Management LLC now owns 2,703,171 shares of the company’s stock valued at $96,665,000 after acquiring an additional 1,044,960 shares in the last quarter. Hedge funds and other institutional investors 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.