Global-E Online (NASDAQ:GLBE) Stock Rating Upgraded by 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, MarketBeat reports. The brokerage currently has $46.00 price objective on the stock, down from their previous price objective of $55.00.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company cut their price target on Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Benchmark cut their target price on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. UBS Group decreased their target price on 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. Piper Sandler increased their price target on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, KeyCorp lifted their price objective 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. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $58.33.

Global-E Online Stock Down 2.8 %

Shares of GLBE stock opened at $35.68 on Wednesday. The firm 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 12 month low of $28.11 and a 12 month high of $63.69. The stock has a 50-day moving average price of $48.65 and a 200 day moving average price of $46.55.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 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 during the quarter, compared to analysts’ expectations of $250.96 million. During the same quarter in the previous year, the company earned $0.22 EPS. Global-E Online’s revenue was up 41.8% on a year-over-year basis. Sell-side analysts predict that Global-E Online will post 0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GLBE. Fifth Third Bancorp increased its position 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 acquiring an additional 197 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in 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 purchasing an additional 748 shares during the period. Arcadia Investment Management Corp MI acquired a new position in Global-E Online in the 4th quarter worth $59,000. Whipplewood Advisors LLC bought a new position in Global-E Online during the 4th quarter worth about $65,000. Finally, Quarry LP raised its stake in shares of Global-E Online by 226.1% in the 3rd quarter. Quarry LP now owns 2,286 shares of the company’s stock valued at $88,000 after purchasing an additional 1,585 shares during the period. 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.