Global-e Online (NASDAQ:GLBE) Price Target Lowered to $33.00 at Morgan Stanley

Global-e Online (NASDAQ:GLBE) had its price objective reduced by Morgan Stanley from $41.00 to $33.00 in a research note issued to investors on Thursday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other brokerages also recently issued reports on GLBE. UBS Group began coverage on shares of Global-e Online in a research report on Friday, September 22nd. They issued a buy rating and a $50.00 price target on the stock. Raymond James dropped their target price on shares of Global-e Online from $45.00 to $41.00 and set an outperform rating on the stock in a research report on Thursday. Needham & Company LLC boosted their target price on shares of Global-e Online from $44.00 to $48.00 and gave the company a buy rating in a research report on Wednesday, August 9th. The Goldman Sachs Group dropped their target price on shares of Global-e Online from $50.00 to $44.00 and set a buy rating on the stock in a research report on Wednesday, August 9th. Finally, Jefferies Financial Group boosted their target price on shares of Global-e Online from $40.00 to $45.00 in a research report on Tuesday, August 8th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $41.50.

Global-e Online Price Performance

NASDAQ:GLBE opened at $30.52 on Thursday. The company has a market cap of $5.01 billion, a PE ratio of -35.49 and a beta of 1.34. Global-e Online has a one year low of $18.14 and a one year high of $45.72. The firm’s 50 day simple moving average is $36.39 and its 200 day simple moving average is $37.56.

Global-e Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, November 15th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. The firm had revenue of $133.60 million for the quarter, compared to the consensus estimate of $140.93 million. Global-e Online had a negative net margin of 26.73% and a negative return on equity of 15.08%. The company’s revenue for the quarter was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.41) EPS. Equities research analysts expect that Global-e Online will post -0.89 EPS for the current year.

Institutional Trading of Global-e Online

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Morgan Stanley increased its stake in Global-e Online by 18.2% during the 3rd quarter. Morgan Stanley now owns 15,827,478 shares of the company’s stock valued at $628,984,000 after purchasing an additional 2,438,737 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Global-e Online by 1,236.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 6,969,582 shares of the company’s stock worth $140,576,000 after acquiring an additional 6,448,167 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Global-e Online by 0.3% in the 2nd quarter. Artisan Partners Limited Partnership now owns 3,458,507 shares of the company’s stock worth $141,591,000 after acquiring an additional 8,905 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Global-e Online by 14.7% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,185,991 shares of the company’s stock worth $86,871,000 after acquiring an additional 280,936 shares in the last quarter. Finally, Temasek Holdings Private Ltd grew its stake in shares of Global-e Online by 31.0% in the 1st quarter. Temasek Holdings Private Ltd now owns 2,112,000 shares of the company’s stock worth $68,070,000 after acquiring an additional 500,000 shares in the last quarter. Institutional investors own 59.23% 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.