Zacks Research Downgrades Global-e Online (NASDAQ:GLBE) to Hold

Global-e Online (NASDAQ:GLBE) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

A number of other brokerages have also recently commented on GLBE. Raymond James Financial reissued an “outperform” rating and issued a $42.00 price objective on shares of Global-e Online in a research note on Wednesday, May 13th. BMO Capital Markets began coverage on shares of Global-e Online in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $42.00 price objective for the company. Bank of America began coverage on shares of Global-e Online in a research note on Tuesday, March 31st. They issued a “buy” rating and a $43.00 price objective for the company. KeyCorp dropped their price objective on shares of Global-e Online from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. Finally, Weiss Ratings cut shares of Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Global-e Online has an average rating of “Moderate Buy” and an average price target of $43.92.

Global-e Online Stock Up 3.5%

Shares of NASDAQ:GLBE opened at $32.89 on Wednesday. Global-e Online has a 52 week low of $26.84 and a 52 week high of $41.94. The stock has a market capitalization of $5.58 billion, a P/E ratio of 50.60 and a beta of 1.16. The firm has a fifty day simple moving average of $30.94 and a two-hundred day simple moving average of $34.80.

Global-e Online (NASDAQ:GLBE) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. The business had revenue of $252.09 million during the quarter, compared to analysts’ expectations of $250.78 million. During the same period last year, the company posted ($0.11) EPS. The business’s revenue was up 32.8% on a year-over-year basis. On average, analysts expect that Global-e Online will post 1.12 earnings per share for the current year.

Insider Transactions at Global-e Online

In other news, COO Shahar Tamari sold 8,333 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $33.59, for a total value of $279,905.47. Following the completion of the sale, the chief operating officer owned 4,033,875 shares in the company, valued at approximately $135,497,861.25. This trade represents a 0.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Nir Debbi sold 9,233 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $33.70, for a total transaction of $311,152.10. Following the completion of the sale, the president owned 4,559,466 shares of the company’s stock, valued at $153,654,004.20. This trade represents a 0.20% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 231,554 shares of company stock worth $7,645,702. 11.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Global-e Online

Institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Global-e Online in the 4th quarter worth about $39,000. IFP Advisors Inc lifted its holdings in shares of Global-e Online by 73.3% in the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock worth $38,000 after acquiring an additional 448 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Global-e Online by 67.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after acquiring an additional 528 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Global-e Online by 780.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock valued at $61,000 after buying an additional 1,616 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in Global-e Online during the 4th quarter valued at about $72,000. Institutional investors own 94.60% of the company’s stock.

Key Global-e Online News

Here are the key news stories impacting Global-e Online this week:

• Positive Sentiment: Global-e’s board approved a new share repurchase program of up to $500 million, following completion of about 80% of its prior $200 million plan. This could support the stock by reducing share count and signaling confidence in future cash generation. Global-e Announces Board Authorization of $500 Million Share Repurchase Program
• Neutral Sentiment: The company noted that repurchases depend on regulatory approval in Israel, creditor objections, market conditions, liquidity, and other factors, so the buyback may not be executed as planned. Global-e Announces Board Authorization of $500 Million Share Repurchase Program
• Negative Sentiment: Recent insider selling from CEO Amir Schlachet, President Nir Debbi, and COO Shahar Tamari may weigh on sentiment, even though the sales were relatively small compared with their overall holdings. Insider sale filing

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.