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

Global-E Online (NASDAQ:GLBE) was upgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Wednesday,Finviz reports. The brokerage currently has a $46.00 price target on the stock, down from their previous price target of $55.00. Morgan Stanley’s price objective indicates a potential upside of 20.23% from the company’s previous close.

A number of other brokerages also recently commented on GLBE. UBS Group cut 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 research report on Friday, February 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. 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 research report on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Global-E Online in a report on Wednesday, March 12th. Finally, Piper Sandler boosted their target price on Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $58.33.

Global-E Online Stock Performance

Shares of NASDAQ:GLBE opened at $38.26 on Wednesday. Global-E Online has a one year low of $28.11 and a one year high of $63.69. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of -86.95, a PEG ratio of 4.61 and a beta of 1.30. The company has a 50-day simple moving average of $49.81 and a 200-day simple moving average of $46.67.

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, beating the consensus estimate of ($0.01) by $0.02. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The firm had revenue of $262.91 million for the quarter, compared to analysts’ expectations of $250.96 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The firm’s revenue for the quarter was up 41.8% on a year-over-year basis. As a group, 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

Institutional investors and hedge funds have recently modified their holdings of the company. Fifth Third Bancorp boosted its position in 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 in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Global-E Online by 1,968.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after buying an additional 748 shares in 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 purchased a new position in Global-E Online during the 4th quarter valued at about $65,000. Finally, Quarry LP increased its holdings in Global-E Online by 226.1% during the 3rd quarter. Quarry LP now owns 2,286 shares of the company’s stock valued at $88,000 after acquiring an additional 1,585 shares in the last quarter. Institutional investors and hedge funds 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.