Global-e Online (NASDAQ:GLBE) Stock Rating Reaffirmed as “Overweight” by Piper Sandler

Global-e Online (NASDAQ:GLBE)‘s stock had its “overweight” rating reaffirmed by research analysts at Piper Sandler in a report issued on Friday, Benzinga reports. They currently have a $52.00 price target on the stock. Piper Sandler‘s target price suggests a potential upside of 24.67% from the stock’s current price.

GLBE has been the subject of several other reports. UBS Group set a $54.00 price objective on shares of Global-e Online and gave the stock a “buy” rating in a research report on Thursday, August 13th. The Goldman Sachs Group restated a “buy” rating on shares of Global-e Online in a report on Wednesday, August 12th. Wall Street Zen upgraded Global-e Online from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Truist Financial lifted their price objective on Global-e Online from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. Finally, Morgan Stanley raised their target price on 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. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Global-e Online currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.83.

Global-e Online Trading Up 1.6%

NASDAQ:GLBE traded up $0.66 on Friday, reaching $41.71. 876,243 shares of the stock traded hands, compared to its average volume of 1,324,843. Global-e Online has a 1-year low of $26.84 and a 1-year high of $45.28. The company’s 50 day moving average is $40.17 and its 200-day moving average is $35.95. The firm has a market capitalization of $7.08 billion, a price-to-earnings ratio of 48.50 and a beta of 1.10.

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

Insider Activity at Global-e Online

In related news, President Nir Debbi sold 100,000 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $44.59, for a total transaction of $4,459,000.00. Following the transaction, the president directly owned 4,242,793 shares of the company’s stock, valued at $189,186,139.87. This represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Shahar Tamari sold 27,957 shares of the firm’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $44.48, for a total transaction of $1,243,527.36. Following the completion of the sale, the chief operating officer owned 3,728,736 shares of the company’s stock, valued at $165,854,177.28. The trade was a 0.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 544,197 shares of company stock valued at $22,250,761 in the last ninety days. Insiders own 11.60% of the company’s stock.

Institutional Trading of Global-e Online

Large investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in 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 worth $72,968,000 after acquiring an additional 2,037,962 shares in the last quarter. Wasatch Advisors LP grew 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 acquiring an additional 1,816,606 shares during the period. Bienville Capital Management LLC bought a new stake in shares of Global-e Online during the second quarter valued at approximately $13,021,000. Shannon River Fund Management LLC increased its holdings in shares of Global-e Online by 78.8% during the third quarter. Shannon River Fund Management LLC now owns 631,450 shares of the company’s stock valued at $25,088,000 after acquiring an additional 278,250 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Global-e Online during the first quarter valued at approximately $8,512,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

About Global-e Online

Global-e Online Ltd. provides a cross-border e-commerce platform that helps retailers and consumer brands sell to shoppers in international markets. Its services support the online shopping journey, from localized storefronts and checkout through payment and delivery. The platform helps merchants tailor the shopping experience to customers in different countries, including by supporting local currencies and payment options and managing international shipping, duties and taxes, and returns. Global-e serves businesses seeking to reach consumers across a range of global markets.