Cathie Wood Buys Global-E Online $GLBE Stock

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Cathie Wood bought GLBE stock on February 2, 2022.

Cathie Wood Buys GLBE Stock

Cathie Wood’s ARK Investment bought 213K shares of Global-e Online on February 2, 2022. The estimated market value of the transaction was $7.6 million.

Global-e Online price target lowered to $50 from $80 at KeyBanc

On January 25, 2022, KeyBanc analyst Josh Beck lowered the firm’s price target on Global-e Online to $50 from $80 to better reflect market conditions. The analyst keeps an Overweight rating on the shares.

Global-e Online price target lowered to $72 from $80 at Piper Sandler

On January 10, 2022, Piper Sandler analyst Brent Bracelin lowered the firm’s price target on Global-e Online to $72 from $80 and kept an Overweight rating on the shares. Cloud stocks have plunged by 26% since November 1 on a valuation reset sparked by a rotation, rising interest rates, supply-chain disruptions, and omicron, Bracelin tells investors in a research note. The analyst adds that the cloud correction “appears decoupled from demand fundamentals that remain robust,” adds the analyst. He notes that Piper’s CIO Survey showed 86%-88% are planning to invest more in cloud applications and infrastructure in 2022. Few technology sectors are this large at $290B, growing at 35% year-over-year, and cloud penetration is still low at 15%, says Bracelin. He recommends large-cap investors “move up the quality ladder and buy the highest quality growth stocks best poised to sustain high growth.”

Global-e Announces Closing of Acquisition of Flow Commerce and Expansion of its Leadership Team

On January 4, 2022, Global-e (NASDAQ: GLBE) announced the closing of its previously reported acquisition of Flow Commerce Inc. (“Flow”), a technology-based cross-border e-commerce software solution for emerging brands.

Leveraging Flow’s robust API-based technology, Global-e will be well-positioned to provide small merchants with a best-in-class solution tailored to emerging brands’ needs, with a lightweight integration effort and advanced self-service capabilities, in combination with Global-e’s unique data models and AI algorithms for conversion optimization. Furthermore, the acquisition is expected to allow Global-e to expand the scope of its exclusive relationship with Shopify to offer certain cross-border services to a broader set of merchants on the platform in addition to its current end-to-end 3rd-party solution catering to established brands.

“We are excited to welcome the Flow team into the Global-e family,” said Nir Debbi, President, and co-founder of Global-e. “This acquisition will allow us to serve small and emerging brands in the most sophisticated and lightweight way possible, by utilizing Flow’s cutting-edge technology coupled with Global-e’s best-in-class expertise and unique data models, positioning our platform as a leading cross-border solution for any size of merchant.”

The deal is valued at up to approximately $500 million (in equal portions of cash and Global-e shares), comprised of a base consideration of roughly $425 million and up to approximately $75 million in potential additional consideration based on specific financial results in 2021, plus approximately $45 million in Global-e shares for certain assumed, performance-based vesting warrants for Flow shares. Concurrently, Global-e issued Shopify a warrant for roughly $70 million in Global-e shares to expand the strategic partnership between the companies. Flow is expected to generate approximately $20 million in net revenues in the calendar year 2021.

Furthermore, Global-e announced today the following changes to its leadership team:

  1. Rob Keve, formerly Flow’s CEO, will join Global-e’s leadership team and will head Global-e’s newly formed SMB division.
  2. Mike Bryzek, formerly Flow’s CTO, will join Global-e’s leadership team and will serve as its Chief Product Officer. Mike will replace Ira Vinitsky, who has asked to step down after leading Global-e’s product organization for more than 8 years.
  3. Adi Waiss will join the Global-e’s management team as its global EVP of Projects. Adi, a 5-year veteran of Global-e, will be transitioning from her previous role of VP Global Projects and Solutions.

“On behalf of Global-e’s entire team and board, I’m happy to welcome today Rob, Mike, and Adi to our leadership team,” said Amir Schlachet, Co-Founder and CEO of Global-e. “Rob and Mike bring with them many years of experience in building top-notch cross-border services, and I am excited to have such passionate and dedicated leaders join our team. I would also like to congratulate Adi for her promotion, and wish her great success in her new role, leading the company’s entire global projects organization. Finally, on behalf of the entire Global-e family, as Ira moves to a new chapter in her life, I would like to thank her for her dedicated service and great contribution to the success of Global-e, having led Global-e’s product organization since its inception.”

Global-e’s mission is to make global e-commerce “border-agnostic.” Global-e is the world’s leading platform to enable and accelerate global, direct-to-consumer cross-border e-commerce. The chosen partner of more than 500 global brands and retailers across the United States, Europe and Asia, Global-e makes selling internationally as simple as selling domestically. Founded in 2013 by Amir Schlachet, Shahar Tamari and Nir Debbi, the company enables e-commerce retailers to increase the conversion of international traffic into sales by offering online shoppers in over 200 destinations worldwide a seamless, localized shopping experience. Global-e’s end-to-end e-commerce solutions combine best-in-class localization capabilities, big-data best-practice business intelligence models, streamlined international logistics and vast cross-border experience, enabling international shoppers to buy seamlessly online and retailers to sell from, and to, anywhere in the world.

Global-e Online initiated with a Buy at Goldman Sachs

On December 10, 2021, Goldman Sachs analyst Will Nance initiated Global-e Online (GLBE) coverage with a Buy rating and $89 price target. The analyst believes Global-e is poised to continue to deliver an “attractive mix” of near-term profitability and “top quartile” growth given its “differentiated” product offering levered to the growth in cross border e-commerce. Further, its partnership with Shopify (SHOP) can add as much as 42% to gross profit by 2023, Nance tells investors in a research note.

Global-e Online initiated with a Buy at BofA

On December 8, 2021, BofA analyst Koji Ikeda initiated coverage of Global-e Online with a Buy rating and $80 price target. The company screens well in terms of its $357B addressable market that is “ripe for disruption” and its competitive moat around a platform built for cross-border transactions with international expansion being top-of-mind for many retailers, the analyst tells investors in a research note. Ikeda adds that he is positive on Global-e having a “large and growing” customer base with potential to be a category consolidator as well as the business being already profitable on adjusted EBITDA and free cash flow basis.

Global-e deal for Flow Commerce strengthens D2C position, says Jefferies

On November 24, 2021, after Global-e (GLBE) announced that it has entered into a definitive agreement to acquire Flow Commerce, a provider of cross-border e-commerce solutions, for up to $500M, Jefferies analyst Samad Samana said he believes the deal strengthens the company’s position in direct-to-consumer cross-border commerce and better serve small businesses while also deepening its relationship with partner Shopify (SHOP). Samana further views the new $70M warrant issued to Shopify as validation of a “strong partnership between the two companies.” The analyst keeps a Buy rating and $80 price target on Global-e shares.

📺 💥 Should You Buy $GLBE Stock Now? Global-e Online to the Moon? 🚀 🔥


📉 GLBE Stock Technical Analysis

Glbe Stock

Both the long and short-term trends are negative. It is better to avoid buying stocks with negative trends. GLBE is part of the Internet & Direct Marketing Retail industry. There are 86 other stocks in this industry, of which all are performing better than GLBE. GLBE is currently trading in the lower part of its 52-week range. The S&P500 Index however is trading in the upper part of its 52-week range, so GLBE is lagging the market.

There is a resistance zone ranging from 38.18 to 38.54. There is a resistance zone ranging from 58.60 to 58.96. These zones are formed by a combination of multiple trend lines in multiple time frames. There is also resistance at 60.86 from a trend line in the daily time frame. There is also resistance at 66.38 from a horizontal line in the daily time frame.

The technical rating of GLBE is bad and it also does not present a quality setup at the moment. GLBE stock has a Setup Rating of 2 out of 10. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts on when GLBE stock consolidates and has a Setup Rating of 8 or higher.

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