Global-E Online (NASDAQ:GLBE) PT Raised to $40.00 at Morgan Stanley

Global-E Online (NASDAQ:GLBE) had its price target raised by analysts at Morgan Stanley from $37.00 to $40.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 11.23% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on GLBE. Bank of America boosted their price target on shares of Global-E Online from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Piper Sandler reduced their target price on Global-E Online from $50.00 to $47.00 and set an “overweight” rating for the company in a report on Friday, July 12th. The Goldman Sachs Group restated a “buy” rating and set a $43.00 price target on shares of Global-E Online in a research note on Monday, July 1st. JMP Securities reaffirmed a “market outperform” rating and set a $46.00 price target on shares of Global-E Online in a research report on Wednesday, July 10th. Finally, Benchmark reissued a “buy” rating and issued a $41.00 price objective on shares of Global-E Online in a report on Tuesday, May 21st. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $43.58.

Global-E Online Price Performance

Global-E Online stock opened at $35.96 on Tuesday. The stock has a market cap of $5.91 billion, a PE ratio of -48.59 and a beta of 1.10. The stock’s fifty day moving average is $32.41 and its two-hundred day moving average is $34.86. Global-E Online has a 1-year low of $27.30 and a 1-year high of $45.28.

Global-E Online (NASDAQ:GLBE) last issued its earnings results on Monday, May 20th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.04. The business had revenue of $145.90 million for the quarter, compared to analyst estimates of $141.55 million. Global-E Online had a negative return on equity of 18.05% and a negative net margin of 20.52%. The business’s quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.26) EPS. On average, research analysts expect that Global-E Online will post -0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Global-E Online

A number of hedge funds have recently added to or reduced their stakes in GLBE. Principal Financial Group Inc. raised its stake in shares of Global-E Online by 5.7% during the 1st quarter. Principal Financial Group Inc. now owns 6,881 shares of the company’s stock worth $250,000 after buying an additional 369 shares in the last quarter. Global Retirement Partners LLC raised its position in Global-E Online by 31.2% in the first quarter. Global Retirement Partners LLC now owns 1,650 shares of the company’s stock worth $60,000 after acquiring an additional 392 shares in the last quarter. Asset Management One Co. Ltd. raised its position in Global-E Online by 1.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 39,692 shares of the company’s stock worth $1,602,000 after acquiring an additional 437 shares in the last quarter. American International Group Inc. lifted its holdings in Global-E Online by 3.2% in the first quarter. American International Group Inc. now owns 15,619 shares of the company’s stock valued at $568,000 after acquiring an additional 484 shares during the period. Finally, TD Asset Management Inc boosted its position in shares of Global-E Online by 2.2% during the 4th quarter. TD Asset Management Inc now owns 22,926 shares of the company’s stock worth $909,000 after purchasing an additional 486 shares in the last quarter. Institutional investors and hedge funds 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.