Morgan Stanley Issues Positive Forecast for Global-E Online (NASDAQ:GLBE) Stock Price

Global-E Online (NASDAQ:GLBE) had its price objective upped by Morgan Stanley from $52.00 to $55.00 in a report published on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

GLBE has been the subject of a number of other reports. Benchmark boosted their price target on shares of Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Raymond James boosted their price target on shares of Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. KeyCorp boosted their price target on shares of Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. JMP Securities upped their target price on shares of Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a research note on Thursday, November 21st. Finally, Piper Sandler upped their target price on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.33.

Global-E Online Price Performance

GLBE opened at $61.90 on Tuesday. The company has a market cap of $10.17 billion, a price-to-earnings ratio of -106.72, a price-to-earnings-growth ratio of 6.16 and a beta of 1.23. The firm has a 50 day simple moving average of $56.99 and a 200 day simple moving average of $45.51. Global-E Online has a fifty-two week low of $28.11 and a fifty-two week high of $63.69.

Institutional Investors Weigh In On Global-E Online

Large investors have recently made changes to their positions in the stock. Fred Alger Management LLC bought a new stake in shares of Global-E Online during the third quarter worth $53,493,000. JPMorgan Chase & Co. increased its position in shares of Global-E Online by 40.7% during the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after acquiring an additional 533,675 shares in the last quarter. Mount Yale Investment Advisors LLC increased its position in shares of Global-E Online by 143.8% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 20,507 shares of the company’s stock worth $1,118,000 after acquiring an additional 12,094 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Global-E Online by 23.8% during the third quarter. Public Sector Pension Investment Board now owns 51,950 shares of the company’s stock worth $1,997,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Global-E Online by 3.4% during the third quarter. Geode Capital Management LLC now owns 933,476 shares of the company’s stock worth $35,722,000 after acquiring an additional 30,995 shares in the last quarter. Institutional investors own 94.60% of the company’s stock.

About Global-E Online

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.