Global-e Online (NASDAQ:GLBE) Given “Overweight” Rating at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Global-e Online (NASDAQ:GLBE) in a research note published on Friday morning,Benzinga reports. They currently have a $52.00 target price on the stock.

GLBE has been the topic of several other research reports. Loop Capital set a $49.00 price objective on shares of Global-e Online in a report on Wednesday, August 12th. Raymond James Financial reiterated an “outperform” rating and set a $48.00 price objective on shares of Global-e Online in a report on Thursday, August 13th. Benchmark reissued a “buy” rating on shares of Global-e Online in a research report on Thursday, August 13th. BMO Capital Markets upped their target price on shares of Global-e Online from $48.00 to $51.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, UBS Group set a $54.00 price target on shares of Global-e Online and gave the company a “buy” rating in a research report on Thursday, August 13th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.83.

Global-e Online Price Performance

Shares of NASDAQ:GLBE traded up $0.66 during trading on Friday, reaching $41.71. 876,243 shares of the stock were exchanged, 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 stock has a fifty day moving average of $40.17 and a two-hundred day moving average of $35.95. The firm has a market cap 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 earnings results on Tuesday, June 30th. The company reported $0.37 earnings per share (EPS) for the quarter. Global-e Online had a return on equity of 16.70% and a net margin of 13.87%. The company had revenue of $299.00 million for the quarter. Sell-side analysts forecast that Global-e Online will post 1.32 EPS for the current year.

Insider Activity

In related news, COO Shahar Tamari sold 27,957 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $44.48, for a total transaction of $1,243,527.36. Following the transaction, the chief operating officer directly owned 3,728,736 shares in the company, valued at approximately $165,854,177.28. The trade was a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amir Schlachet sold 24,999 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $41.39, for a total transaction of $1,034,708.61. Following the completion of the sale, the chief executive officer directly owned 3,616,736 shares of the company’s stock, valued at $149,696,703.04. The trade was a 0.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 544,197 shares of company stock worth $22,250,761 over the last quarter. Insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On Global-e Online

Several hedge funds have recently modified their holdings of the company. Wellington Management Group LLP raised its stake 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. Wasatch Advisors LP lifted its position in shares of Global-e Online by 28.1% during the 2nd 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 during the last quarter. Bienville Capital Management LLC bought a new position in shares of Global-e Online during the 2nd quarter worth $13,021,000. Shannon River Fund Management LLC grew its stake in shares of Global-e Online by 78.8% during the 3rd quarter. Shannon River Fund Management LLC now owns 631,450 shares of the company’s stock worth $25,088,000 after acquiring an additional 278,250 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Global-e Online during the 1st quarter worth $8,512,000. Institutional investors own 94.60% of the company’s stock.

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.