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

Morgan Stanley upgraded shares of Global-E Online (NASDAQ:GLBE) from an equal weight rating to an overweight rating in a research report sent to investors on Wednesday, Marketbeat.com reports. Morgan Stanley currently has $46.00 price target on the stock, down from their prior price target of $55.00.

GLBE has been the topic of several other research reports. The Goldman Sachs Group raised their price target on Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a report on Friday, January 10th. Benchmark lowered their price target 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. 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. UBS Group reduced their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Finally, 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. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $58.33.

Global-E Online Stock Down 2.7 %

Shares of NASDAQ:GLBE opened at $37.24 on Wednesday. The firm has a market cap of $6.12 billion, a P/E ratio of -84.64, a P/E/G 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 company’s 50-day moving average price is $49.44 and its two-hundred day moving average price is $46.61.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, beating 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 business had revenue of $262.91 million for the quarter, compared to analysts’ expectations of $250.96 million. During the same period in the prior year, the firm earned $0.22 earnings per share. Global-E Online’s revenue was up 41.8% compared to the same quarter last year. As a group, equities analysts predict that Global-E Online will post 0.25 earnings per share for the current fiscal year.

Institutional Trading of Global-E Online

A number of large investors have recently bought and sold shares of GLBE. Fifth Third Bancorp boosted its holdings in shares of Global-E Online by 69.1% in the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after buying an additional 197 shares during the period. Geneos Wealth Management Inc. lifted its position 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 valued at $43,000 after acquiring an additional 748 shares in the last quarter. 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, SBI Securities Co. Ltd. acquired a new stake in shares of Global-E Online in the 4th quarter valued at about $99,000. 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.