Global-E Online (NASDAQ:GLBE) Stock Rating Upgraded by Morgan Stanley

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

GLBE has been the subject of several other research reports. Wells Fargo & Company dropped 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 note on Wednesday, March 5th. Piper Sandler upped their price target on Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. The Goldman Sachs Group lifted their price objective on Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, January 10th. KeyCorp upped their target price 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. Finally, UBS Group decreased their price target on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $58.33.

Global-E Online Trading Down 1.4 %

GLBE stock opened at $36.72 on Wednesday. The business’s fifty day moving average price is $49.06 and its 200 day moving average price is $46.54. Global-E Online has a 12-month low of $28.11 and a 12-month high of $63.69. The company has a market capitalization of $6.03 billion, a PE ratio of -83.45, a P/E/G ratio of 4.61 and a beta of 1.30.

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

Institutional Investors Weigh In On Global-E Online

A number of institutional investors and hedge funds have recently bought and sold shares of GLBE. Fred Alger Management LLC lifted its holdings in shares of Global-E Online by 204.6% in the 4th quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company’s stock valued at $231,178,000 after purchasing an additional 2,847,868 shares during the last quarter. Contour Asset Management LLC lifted its stake in Global-E Online by 9.1% in the fourth quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company’s stock valued at $144,336,000 after buying an additional 220,519 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Global-E Online by 1.5% during the 4th quarter. Clearbridge Investments LLC now owns 2,268,618 shares of the company’s stock worth $123,708,000 after purchasing an additional 34,391 shares during the period. JPMorgan Chase & Co. grew its position in Global-E Online by 40.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after purchasing an additional 533,675 shares during the last quarter. Finally, Eventide Asset Management LLC increased its stake in Global-E Online by 59.1% in the third 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 period. 94.60% of the stock is owned by hedge funds and other institutional investors.

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.