Global-e Online (NASDAQ:GLBE) Coverage Initiated at Bank of America

Investment analysts at Bank of America began coverage on shares of Global-e Online (NASDAQ:GLBE) in a note issued to investors on Tuesday. The brokerage set a “buy” rating and a $43.00 price target on the stock. Bank of America‘s price target points to a potential upside of 50.14% from the stock’s previous close.

A number of other research firms also recently issued reports on GLBE. Weiss Ratings upgraded shares of Global-e Online from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Friday. Benchmark raised their price objective on shares of Global-e Online from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Piper Sandler restated an “overweight” rating on shares of Global-e Online in a report on Thursday, February 19th. Needham & Company LLC increased their target price on shares of Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Finally, Truist Financial lowered their price objective on Global-e Online from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.36.

Global-e Online Trading Down 1.0%

Shares of NASDAQ GLBE opened at $28.64 on Tuesday. The firm has a market capitalization of $4.86 billion, a PE ratio of 77.41 and a beta of 1.24. Global-e Online has a one year low of $26.64 and a one year high of $43.21. The business has a 50-day moving average price of $34.26 and a two-hundred day moving average price of $36.27.

Insider Activity at Global-e Online

In other news, COO Shahar Tamari sold 16,666 shares of the stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $33.81, for a total value of $563,477.46. Following the completion of the transaction, the chief operating officer owned 3,419,745 shares in the company, valued at approximately $115,621,578.45. This represents a 0.48% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Amir Schlachet sold 16,666 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $34.45, for a total transaction 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. Insiders have sold 41,664 shares of company stock worth $1,425,158 over the last three months. Company insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On Global-e Online

Institutional investors and hedge funds have recently made changes to their positions in the company. Dragoneer Investment Group LLC grew its stake in Global-e Online by 18.2% during the third quarter. Dragoneer Investment Group LLC now owns 11,887,078 shares of the company’s stock worth $425,082,000 after buying an additional 1,831,063 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Global-e Online by 68.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock worth $230,842,000 after acquiring an additional 2,387,242 shares during the last quarter. Contour Asset Management LLC raised its stake 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 worth $190,342,000 after acquiring an additional 211,034 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of Global-e Online by 40.0% during the fourth quarter. Wasatch Advisors LP now owns 4,821,106 shares of the company’s stock valued at $189,518,000 after purchasing an additional 1,378,035 shares during the last quarter. Finally, Arohi Asset Management PTE Ltd. raised its position in 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 worth $148,604,000 after purchasing an additional 23,213 shares during the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-e Online Company Profile

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.