Global-E Online (NASDAQ:GLBE) Upgraded by Morgan Stanley to “Overweight”

Morgan Stanley upgraded shares of Global-E Online (NASDAQ:GLBE) from an equal weight rating to an overweight rating in a research report report published on Tuesday, MarketBeat.com reports. They currently have $37.00 price target on the stock, up from their prior price target of $33.00.

Several other research firms have also weighed in on GLBE. Needham & Company LLC restated a buy rating and set a $48.00 target price on shares of Global-E Online in a report on Friday, April 5th. Piper Sandler restated an overweight rating and set a $50.00 price objective on shares of Global-E Online in a research note on Thursday, February 22nd. Finally, Wells Fargo & Company reiterated an overweight rating and issued a $40.00 target price on shares of Global-E Online in a research note on Monday, April 1st. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Global-E Online presently has a consensus rating of Buy and a consensus price target of $43.83.

Global-E Online Trading Down 0.1 %

Shares of GLBE opened at $29.42 on Tuesday. The company has a 50-day moving average of $33.32 and a two-hundred day moving average of $35.60. The stock has a market cap of $4.83 billion, a P/E ratio of -39.76 and a beta of 1.13. Global-E Online has a 12-month low of $27.30 and a 12-month high of $45.72.

Global-E Online (NASDAQ:GLBE) last released its earnings results on Monday, May 20th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.04. The firm had revenue of $145.90 million during the quarter, compared to analysts’ expectations of $141.55 million. Global-E Online had a negative net margin of 20.52% and a negative return on equity of 18.05%. Global-E Online’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.26) EPS. As a group, analysts forecast that Global-E Online will post -0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

Institutional investors have recently modified their holdings of the business. Morgan Stanley lifted its holdings in Global-E Online by 18.2% during the 3rd quarter. Morgan Stanley now owns 15,827,478 shares of the company’s stock valued at $628,984,000 after purchasing an additional 2,438,737 shares during the last quarter. Capital World Investors lifted its stake in shares of Global-E Online by 60.5% during the 1st quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock worth $181,150,000 after buying an additional 1,877,953 shares during the last quarter. Eventide Asset Management LLC boosted its holdings in shares of Global-E Online by 0.5% during the 4th quarter. Eventide Asset Management LLC now owns 2,464,197 shares of the company’s stock worth $97,656,000 after buying an additional 13,350 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Global-E Online by 9.9% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,403,473 shares of the company’s stock valued at $95,250,000 after buying an additional 217,482 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. raised its holdings in Global-E Online by 10.8% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 2,224,278 shares of the company’s stock valued at $88,037,000 after acquiring an additional 217,415 shares during the period. Institutional investors own 94.60% of the company’s stock.

Global-E Online Company Profile

Global-E Online Ltd., together with its subsidiaries, provides a platform to enable and accelerate direct-to-consumer cross-border e-commerce in Israel, the United Kingdom, the United States, and internationally. Its platform enables international shoppers to buy online and merchants to sell from, and to, worldwide.