Brokerages Set Global-e Online Ltd. (NASDAQ:GLBE) Price Target at $47.69

Global-e Online Ltd. (NASDAQ:GLBE) has been given an average recommendation of “Moderate Buy” by the sixteen brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $47.6923.

GLBE has been the topic of a number of research reports. Benchmark reissued a “buy” rating on shares of Global-e Online in a report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft raised Global-e Online to an “accumulate” rating in a research note on Wednesday, May 27th. Wall Street Zen raised Global-e Online from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Citigroup reiterated a “market outperform” rating on shares of Global-e Online in a research note on Thursday, August 13th. Finally, Loop Capital set a $49.00 target price on Global-e Online in a report on Wednesday, August 12th.

Global-e Online Price Performance

GLBE stock opened at $38.04 on Monday. The company has a fifty day moving average price of $38.93 and a 200 day moving average price of $34.74. Global-e Online has a 12 month low of $26.84 and a 12 month high of $43.99. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 44.23 and a beta of 1.00.

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

Insiders Place Their Bets

In other Global-e Online news, CEO Amir Schlachet sold 100,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $42.20, for a total value of $4,220,000.00. Following the transaction, the chief executive officer directly owned 3,965,422 shares of the company’s stock, valued at approximately $167,340,808.40. The trade was a 2.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Shahar Tamari sold 28,623 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $36.02, for a total transaction of $1,031,000.46. Following the transaction, the chief operating officer owned 3,956,685 shares of the company’s stock, valued at approximately $142,519,793.70. The trade was a 0.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 633,676 shares of company stock worth $25,306,763. 11.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GLBE. Wasatch Advisors LP boosted its holdings in Global-e Online by 28.1% in the 2nd quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company’s stock valued at $287,397,000 after purchasing an additional 1,816,606 shares in the last quarter. Contour Asset Management LLC raised its stake in shares of Global-e Online by 4.6% during the 4th quarter. Contour Asset Management LLC now owns 4,842,069 shares of the company’s stock worth $190,342,000 after buying an additional 211,034 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Global-e Online by 4.0% in the 1st 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 lifted its holdings in shares of Global-e Online by 3,232.4% in the 2nd 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 boosted its stake in shares of Global-e Online by 1.1% in the second quarter. Spyglass Capital Management LLC now owns 1,958,379 shares of the company’s stock valued at $68,015,000 after buying an additional 20,610 shares in the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-e Online Company Profile

Global-e Online Ltd. (NASDAQ: GLBE) provides a software platform that enables merchants and brands to sell products internationally through localized e-commerce experiences. Its technology is designed to help businesses manage the operational and regulatory complexities of cross-border online commerce while presenting shoppers with familiar purchasing experiences in their local markets.

The company’s services include localized websites and checkout experiences, support for multiple currencies and payment methods, international shipping options, calculation and collection of duties and taxes, fraud prevention, returns management, and analytics.