Global-e Online (NASDAQ:GLBE) Stock Rating Lowered by Zacks Research

Global-e Online (NASDAQ:GLBE) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

GLBE has been the subject of several other reports. Wall Street Zen raised shares of Global-e Online from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings upgraded shares of Global-e Online from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Morgan Stanley upped their target price 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. The Goldman Sachs Group reiterated a “buy” rating on shares of Global-e Online in a report on Wednesday, August 12th. Finally, BMO Capital Markets raised their price target on shares of Global-e Online from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.00.

Global-e Online Price Performance

GLBE opened at $39.00 on Monday. The stock has a 50-day moving average price of $39.51 and a 200-day moving average price of $35.43. The firm has a market cap of $6.62 billion, a PE ratio of 45.35 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.

Global-e Online (NASDAQ:GLBE) last announced 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 company had revenue of $299.00 million for the quarter. As a group, sell-side analysts anticipate that Global-e Online will post 1.32 EPS for the current year.

Insider Transactions at Global-e Online

In other news, CEO Amir Schlachet sold 100,000 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $42.20, for a total transaction 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 $167,340,808.40. This represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Shahar Tamari sold 24,999 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $41.63, for a total value of $1,040,708.37. Following the transaction, the chief operating officer directly owned 3,856,689 shares in the company, valued at approximately $160,553,963.07. The trade was a 0.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 658,319 shares of company stock worth $26,838,705 over the last quarter. 11.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Global-e Online

Several hedge funds and other institutional investors have recently bought and sold shares of GLBE. Wasatch Advisors LP raised its holdings in shares of Global-e Online by 28.1% during the second 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 during the last quarter. Contour Asset Management LLC lifted its position in Global-e Online by 4.6% during the fourth quarter. Contour Asset Management LLC now owns 4,842,069 shares of the company’s stock valued at $190,342,000 after purchasing an additional 211,034 shares during the period. Janus Henderson Group PLC lifted its position in Global-e Online by 4.0% during the first quarter. Janus Henderson Group PLC now owns 2,360,866 shares of the company’s stock valued at $72,833,000 after purchasing an additional 91,384 shares during the period. Wellington Management Group LLP lifted its position in Global-e Online by 3,232.4% during the second quarter. Wellington Management Group LLP now owns 2,101,009 shares of the company’s stock valued at $72,968,000 after purchasing an additional 2,037,962 shares during the period. Finally, Spyglass Capital Management LLC lifted its position in 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 valued at $68,015,000 after purchasing an additional 20,610 shares during the period. Institutional investors own 94.60% of the company’s stock.

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.