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 research report released on Tuesday, Marketbeat Ratings reports. The brokerage currently has $37.00 price objective on the stock, up from their previous price objective of $33.00.

GLBE has been the topic of a number of other reports. Needham & Company LLC restated a buy rating and issued a $48.00 target price on shares of Global-E Online in a research note on Friday, April 5th. Piper Sandler restated an overweight rating and issued a $50.00 target price on shares of Global-E Online in a research note on Thursday, February 22nd. Finally, Wells Fargo & Company reiterated an overweight rating and set a $40.00 price objective on shares of Global-E Online in a research report on Monday, April 1st. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Global-E Online currently has a consensus rating of Buy and a consensus price target of $43.83.

Global-E Online Stock Performance

Shares of GLBE opened at $29.45 on Tuesday. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of -39.80 and a beta of 1.13. The stock’s 50-day simple moving average is $33.40 and its 200 day simple moving average is $35.65. Global-E Online has a 52-week low of $27.30 and a 52-week high of $45.72.

Global-E Online (NASDAQ:GLBE) last announced its earnings results on Monday, May 20th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.26) EPS. On average, research analysts forecast that Global-E Online will post -0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its position in 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 acquiring an additional 369 shares during the last quarter. Global Retirement Partners LLC grew its position in Global-E Online by 31.2% during the 1st quarter. Global Retirement Partners LLC now owns 1,650 shares of the company’s stock worth $60,000 after acquiring an additional 392 shares during the last quarter. Asset Management One Co. Ltd. grew its position in Global-E Online by 1.1% during the 4th 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 during the last quarter. American International Group Inc. grew its position in Global-E Online by 3.2% during the 1st quarter. American International Group Inc. now owns 15,619 shares of the company’s stock worth $568,000 after acquiring an additional 484 shares during the last quarter. Finally, TD Asset Management Inc grew its position in 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 acquiring an additional 486 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors.

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.