Global-E Online (NASDAQ:GLBE) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Global-E Online (NASDAQ:GLBE) from an equal weight rating to an overweight rating in a report issued on Wednesday morning, Marketbeat reports. They currently have $46.00 price target on the stock, down from their prior price target of $55.00.

Other analysts have also issued research reports about the company. Wells Fargo & Company decreased their price objective on Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. The Goldman Sachs Group boosted their price target on shares of Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a report on Friday, January 10th. Benchmark reduced their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, February 20th. 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. Finally, KeyCorp increased 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 report on Monday, February 10th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $58.33.

Global-E Online Trading Down 2.8 %

Shares of Global-E Online stock opened at $35.68 on Wednesday. The company has a market cap of $5.86 billion, a price-to-earnings ratio of -81.09, a PEG ratio of 4.61 and a beta of 1.30. Global-E Online has a 1 year low of $28.11 and a 1 year high of $63.69. The company’s fifty day simple moving average is $48.65 and its 200-day simple moving average is $46.55.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings data 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 company had revenue of $262.91 million for the quarter, compared to the consensus estimate of $250.96 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The business’s revenue was up 41.8% compared to the same quarter last year. As a group, research analysts forecast that Global-E Online will post 0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

Institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp grew its holdings in shares of Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Global-E Online by 1,968.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after acquiring an additional 748 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Global-E Online in the 4th quarter valued at about $59,000. Whipplewood Advisors LLC bought a new position in shares of Global-E Online in the fourth quarter worth about $65,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Global-E Online in the fourth quarter worth about $99,000. 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.