Global-e Online Ltd. (NASDAQ:GLBE) Stock Has Consensus Target Price of $47.69

Global-e Online Ltd. (NASDAQ:GLBE) has received an average recommendation of “Moderate Buy” from the sixteen brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $47.69.

Several research firms recently weighed in on GLBE. Morgan Stanley lifted their price objective on shares of 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. Weiss Ratings raised shares of Global-e Online from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. Jefferies Financial Group reiterated a “buy” rating and issued a $48.00 target price on shares of Global-e Online in a report on Wednesday, August 12th. Needham & Company LLC reiterated a “buy” rating and issued a $47.00 target price on shares of Global-e Online in a report on Tuesday, September 1st. Finally, Truist Financial lifted their price target on shares of Global-e Online from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th.

Insider Activity

In other Global-e Online news, CFO Ofer Koren sold 50,000 shares of Global-e Online stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $41.23, for a total transaction of $2,061,500.00. Following the transaction, the chief financial officer directly owned 153,189 shares in the company, valued at approximately $6,315,982.47. The trade was a 24.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Amir Schlachet sold 24,999 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $39.14, for a total value of $978,460.86. Following the completion of the transaction, the chief executive officer directly owned 3,666,734 shares of the company’s stock, valued at approximately $143,515,968.76. The trade was a 0.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 658,319 shares of company stock worth $26,838,705 in the last 90 days. Corporate insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On Global-e Online

Large investors have recently modified their holdings of the business. Wasatch Advisors LP lifted its stake in Global-e Online by 28.1% in the second quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company’s stock valued at $287,397,000 after buying an additional 1,816,606 shares in the last quarter. Contour Asset Management LLC boosted its holdings in shares of Global-e Online by 4.6% in the fourth quarter. Contour Asset Management LLC now owns 4,842,069 shares of the company’s stock valued at $190,342,000 after buying an additional 211,034 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Global-e Online by 4.0% in the first quarter. Janus Henderson Group PLC now owns 2,360,866 shares of the company’s stock valued at $72,833,000 after buying an additional 91,384 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Global-e Online by 3,232.4% in the second quarter. Wellington Management Group LLP now owns 2,101,009 shares of the company’s stock valued at $72,968,000 after buying an additional 2,037,962 shares during the period. Finally, Spyglass Capital Management LLC increased its position in shares of Global-e Online by 1.1% during the second quarter. Spyglass Capital Management LLC now owns 1,958,379 shares of the company’s stock worth $68,015,000 after acquiring an additional 20,610 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors.

Global-e Online Stock Performance

Shares of GLBE opened at $40.39 on Friday. The stock has a market cap of $6.86 billion, a P/E ratio of 46.97 and a beta of 0.98. 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 $39.58 and its two-hundred day moving average price is $35.33.

Global-e Online (NASDAQ:GLBE) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.37 EPS for the quarter. The company had revenue of $299.00 million during the quarter. Global-e Online had a return on equity of 16.70% and a net margin of 13.87%. As a group, equities analysts forecast that Global-e Online will post 1.32 EPS for the current year.

About Global-e Online

Global-e Online Ltd. is an Israel-based technology company that provides an end-to-end platform for cross-border e-commerce. Its software helps retailers and brands sell directly to consumers in international markets by adapting online shopping experiences to local languages, currencies, payment methods, tax requirements and delivery preferences.

The company’s services support the international customer journey, including localized storefronts and checkout experiences, calculation and collection of duties and taxes, payment processing, fraud prevention, international shipping, order management and returns.