Global-E Online (NASDAQ:GLBE) Rating Increased to Overweight at Morgan Stanley

Global-E Online (NASDAQ:GLBE) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Tuesday, Marketbeat reports. The brokerage currently has a $37.00 target price on the stock, up from their prior target price of $33.00. Morgan Stanley’s price target suggests a potential upside of 20.13% from the company’s previous close.

Several other equities research analysts have also issued reports on GLBE. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price target on shares of Global-E Online in a report on Friday, April 5th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $40.00 price target on shares of Global-E Online in a report on Monday, April 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $50.00 price target on shares of Global-E Online in a report on Thursday, February 22nd. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Global-E Online currently has an average rating of “Buy” and a consensus target price of $43.83.

Global-E Online Trading Up 2.5 %

Shares of NASDAQ:GLBE opened at $30.80 on Tuesday. The firm has a 50 day moving average of $33.50 and a 200-day moving average of $35.69. The stock has a market capitalization of $5.06 billion, a PE ratio of -41.62 and a beta of 1.13. Global-E Online has a 12 month low of $27.30 and a 12 month high of $45.72.

Global-E Online (NASDAQ:GLBE) last issued its earnings results on Monday, May 20th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.04. The company had revenue of $145.90 million during the quarter, compared to analysts’ expectations of $141.55 million. Global-E Online had a negative net margin of 20.52% and a negative return on equity of 20.08%. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.26) EPS. On average, research analysts predict that Global-E Online will post -0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Global-E Online

A number of institutional investors have recently modified their holdings of the company. Tidal Investments LLC bought a new stake in shares of Global-E Online in the 1st quarter valued at $2,521,000. California State Teachers Retirement System raised its holdings in Global-E Online by 12.4% during the first quarter. California State Teachers Retirement System now owns 127,869 shares of the company’s stock worth $4,648,000 after buying an additional 14,139 shares during the last quarter. Kodai Capital Management LP raised its holdings in Global-E Online by 184.9% during the first quarter. Kodai Capital Management LP now owns 1,307,194 shares of the company’s stock worth $47,517,000 after buying an additional 848,375 shares during the last quarter. Silvercrest Asset Management Group LLC acquired a new position in Global-E Online during the first quarter worth $480,000. Finally, Scge Management L.P. raised its holdings in Global-E Online by 201.7% during the first quarter. Scge Management L.P. now owns 900,000 shares of the company’s stock worth $32,715,000 after buying an additional 601,728 shares during the last quarter. 94.60% of the stock is owned by 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.