Morgan Stanley Issues Positive Forecast for Global-E Online (NASDAQ:GLBE) Stock Price

Global-E Online (NASDAQ:GLBE) had its price target hoisted by Morgan Stanley from $52.00 to $55.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group upped their target price on shares of Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Jefferies Financial Group upped their price objective on shares of Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Wells Fargo & Company upped their price objective on shares of Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Piper Sandler upped their price objective on shares of Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a research report on Monday, November 18th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $58.25.

Global-E Online Price Performance

GLBE opened at $46.63 on Tuesday. Global-E Online has a fifty-two week low of $28.11 and a fifty-two week high of $63.69. The firm has a market capitalization of $7.66 billion, a PE ratio of -80.40, a P/E/G ratio of 6.37 and a beta of 1.23. The company’s 50-day moving average is $56.72 and its 200 day moving average is $45.56.

Global-E Online (NASDAQ:GLBE) last posted its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. Global-E Online had a negative net margin of 14.68% and a negative return on equity of 15.05%. The company had revenue of $262.91 million for the quarter, compared to analyst estimates of $250.96 million. During the same quarter in the prior year, the business posted $0.22 EPS. The firm’s revenue was up 41.8% compared to the same quarter last year. As a group, analysts expect that Global-E Online will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Fred Alger Management LLC bought a new position in shares of Global-E Online during the 3rd quarter valued at approximately $53,493,000. TimesSquare Capital Management LLC boosted its holdings in Global-E Online by 6.3% in the 4th quarter. TimesSquare Capital Management LLC now owns 770,999 shares of the company’s stock worth $42,043,000 after buying an additional 45,739 shares during the period. JPMorgan Chase & Co. boosted its holdings in Global-E Online by 40.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after buying an additional 533,675 shares during the period. Mount Yale Investment Advisors LLC boosted its holdings in Global-E Online by 143.8% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 20,507 shares of the company’s stock worth $1,118,000 after buying an additional 12,094 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in Global-E Online by 23.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 51,950 shares of the company’s stock worth $1,997,000 after buying an additional 10,000 shares during the period. 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.