Morgan Stanley Lowers Global-E Online (NASDAQ:GLBE) to Equal Weight

Morgan Stanley lowered shares of Global-E Online (NASDAQ:GLBE) from an overweight rating to an equal weight rating in a report released on Friday morning, MarketBeat Ratings reports. Morgan Stanley currently has $40.00 price objective on the stock.

A number of other equities research analysts also recently commented on the company. Piper Sandler lowered their price objective on Global-E Online from $47.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. KeyCorp dropped their price objective on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $43.00 price target on shares of Global-E Online in a research note on Monday, July 1st. Bank of America reduced their price objective on Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Needham & Company LLC reissued a “buy” rating and set a $48.00 target price on shares of Global-E Online in a research report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.09.

Global-E Online Trading Up 1.2 %

Shares of GLBE stock opened at $38.11 on Friday. Global-E Online has a twelve month low of $27.30 and a twelve month high of $42.88. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of -51.50 and a beta of 1.10. The firm has a 50-day moving average price of $35.93 and a 200 day moving average price of $34.03.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.03. The business had revenue of $168.00 million for the quarter, compared to the consensus estimate of $165.95 million. Global-E Online had a negative net margin of 17.33% and a negative return on equity of 16.41%. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.22) earnings per share. As a group, research analysts predict that Global-E Online will post -0.5 earnings per share for the current year.

Institutional Trading of Global-E Online

A number of hedge funds have recently made changes to their positions in the company. Dragoneer Investment Group LLC increased its position in shares of Global-E Online by 9.6% during the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock worth $534,403,000 after acquiring an additional 1,288,829 shares during the last quarter. Abdiel Capital Advisors LP boosted its stake in shares of Global-E Online by 1.4% during the 2nd quarter. Abdiel Capital Advisors LP now owns 6,776,495 shares of the company’s stock valued at $245,783,000 after buying an additional 95,741 shares during the last quarter. Capital World Investors grew its position in shares of Global-E Online by 60.5% during the first quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock worth $181,150,000 after buying an additional 1,877,953 shares in the last quarter. Clearbridge Investments LLC bought a new stake in shares of Global-E Online in the second quarter worth $83,036,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Global-E Online by 16.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,956,990 shares of the company’s stock valued at $71,137,000 after acquiring an additional 270,949 shares in the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

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.