Morgan Stanley Upgrades Global-E Online (NASDAQ:GLBE) to Overweight

Global-E Online (NASDAQ:GLBE) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a note issued to investors on Wednesday, MarketBeat reports. The firm currently has a $46.00 price target on the stock, down from their prior price target of $55.00. Morgan Stanley’s price target would indicate a potential upside of 25.27% from the stock’s previous close.

A number of other research analysts have also recently commented on GLBE. Needham & Company LLC restated a “buy” rating and issued a $64.00 price target on shares of Global-E Online in a report on Wednesday, March 12th. KeyCorp increased their target price on shares of Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Benchmark dropped their price target on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. UBS Group cut their target price on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Finally, Wells Fargo & Company reduced their price target on shares of Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Global-E Online currently has a consensus rating of “Buy” and an average price target of $58.33.

Global-E Online Trading Down 1.4 %

Global-E Online stock opened at $36.72 on Wednesday. Global-E Online has a 12 month low of $28.11 and a 12 month high of $63.69. The stock has a fifty day simple moving average of $49.06 and a two-hundred day simple moving average of $46.54. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of -83.45, a PEG ratio of 4.61 and a beta of 1.30.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. The firm had revenue of $262.91 million for the quarter, compared to analysts’ expectations of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The business’s quarterly revenue was up 41.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 EPS. On average, equities research analysts forecast that Global-E Online will post 0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Global-E Online

Hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in Global-E Online by 10.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 71,151 shares of the company’s stock valued at $2,735,000 after purchasing an additional 6,485 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Global-E Online by 6.8% in the third quarter. Daiwa Securities Group Inc. now owns 7,800 shares of the company’s stock worth $300,000 after acquiring an additional 500 shares during the period. FMR LLC increased its stake in Global-E Online by 4.1% during the third quarter. FMR LLC now owns 979,371 shares of the company’s stock worth $37,647,000 after acquiring an additional 38,597 shares during the last quarter. Public Sector Pension Investment Board raised its position in Global-E Online by 23.8% in the third quarter. Public Sector Pension Investment Board now owns 51,950 shares of the company’s stock valued at $1,997,000 after purchasing an additional 10,000 shares during the period. Finally, Eventide Asset Management LLC lifted its stake in shares of Global-E Online by 59.1% in the 3rd quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock valued at $60,091,000 after purchasing an additional 580,450 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

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.