Global-E Online (NASDAQ:GLBE) Upgraded at Morgan Stanley

Global-E Online (NASDAQ:GLBE - Get Free Report) was upgraded by analysts at Morgan Stanley from an "equal weight" rating to an "overweight" rating in a note issued to investors on Wednesday, MarketBeat reports. The firm presently has a $46.00 target price on the stock, down from their prior target price of $55.00. Morgan Stanley's price objective indicates a potential upside of 28.92% from the stock's previous close.

Other research analysts also recently issued reports about the company. Benchmark cut their price objective on Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. KeyCorp upped 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 report on Monday, February 10th. The Goldman Sachs Group raised their price objective on shares of Global-E Online from $56.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Wells Fargo & Company dropped their target price on shares of Global-E Online from $60.00 to $54.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Finally, Needham & Company LLC reissued a "buy" rating and set a $64.00 price target on shares of Global-E Online in a report on Wednesday, March 12th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Global-E Online currently has a consensus rating of "Buy" and an average price target of $58.33.

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Global-E Online Stock Down 2.8 %

Shares of Global-E Online stock traded down $1.04 during trading hours on Wednesday, reaching $35.68. 1,102,673 shares of the stock traded hands, compared to its average volume of 1,293,906. The company has a 50 day moving average price of $48.65 and a 200 day moving average price of $46.62. Global-E Online has a one year low of $28.11 and a one year high of $63.69. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of -81.09, a P/E/G ratio of 4.61 and a beta of 1.30.

Global-E Online (NASDAQ:GLBE - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.02. The business had revenue of $262.91 million during the quarter, compared to analysts' expectations of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The firm's revenue was up 41.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 earnings per share. Sell-side analysts anticipate that Global-E Online will post 0.25 earnings per share for the current year.

Hedge Funds Weigh In On Global-E Online

Several institutional investors have recently bought and sold shares of GLBE. Fifth Third Bancorp raised its position in Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company's stock valued at $26,000 after purchasing an additional 197 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Global-E Online by 1,968.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company's stock worth $43,000 after buying an additional 748 shares during the period. Arcadia Investment Management Corp MI bought a new stake in shares of Global-E Online during the 4th quarter worth approximately $59,000. Whipplewood Advisors LLC purchased a new stake in shares of Global-E Online during the fourth quarter valued at $65,000. Finally, Quarry LP grew its holdings in shares of Global-E Online by 226.1% in the third quarter. Quarry LP now owns 2,286 shares of the company's stock worth $88,000 after purchasing an additional 1,585 shares during the last quarter. 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.