Morgan Stanley Lowers Global-e Online (NASDAQ:GLBE) Price Target to $37.00

Global-e Online (NASDAQ:GLBE) had its price objective cut by equities researchers at Morgan Stanley from $43.00 to $37.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 32.66% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. Wall Street Zen downgraded Global-e Online from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Raymond James Financial reissued an “outperform” rating and set a $42.00 target price on shares of Global-e Online in a research note on Wednesday. Bank of America initiated coverage on Global-e Online in a research note on Tuesday, March 31st. They set a “buy” rating and a $43.00 target price for the company. Jefferies Financial Group reissued a “buy” rating and set a $40.00 target price on shares of Global-e Online in a research note on Wednesday. Finally, Weiss Ratings downgraded Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $44.17.

Global-e Online Stock Down 0.2%

GLBE opened at $27.89 on Thursday. The business has a 50 day moving average price of $31.91 and a two-hundred day moving average price of $35.34. The company has a market cap of $4.73 billion, a PE ratio of 42.91 and a beta of 1.18. Global-e Online has a 52 week low of $26.84 and a 52 week high of $41.94.

Global-e Online (NASDAQ:GLBE) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.18 by $0.09. The firm had revenue of $252.09 million during the quarter, compared to the consensus estimate of $250.78 million. Global-e Online had a return on equity of 12.64% and a net margin of 11.37%.The firm’s revenue was up 32.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.11) EPS. As a group, sell-side analysts expect that Global-e Online will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President Nir Debbi sold 4,166 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $32.57, for a total value of $135,686.62. Following the sale, the president owned 4,290,693 shares in the company, valued at $139,747,871.01. This represents a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Amir Schlachet sold 6,194 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $32.45, for a total value of $200,995.30. Following the completion of the sale, the chief executive officer owned 3,967,884 shares in the company, valued at approximately $128,757,835.80. This represents a 0.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 167,708 shares of company stock worth $5,586,117 in the last quarter. Company insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On Global-e Online

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wasatch Advisors LP grew its holdings in shares of Global-e Online by 34.0% in the 1st quarter. Wasatch Advisors LP now owns 6,458,588 shares of the company’s stock worth $199,247,000 after acquiring an additional 1,637,482 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Global-e Online by 68.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock worth $230,842,000 after acquiring an additional 2,387,242 shares during the period. Contour Asset Management LLC grew its holdings in shares of Global-e Online by 4.6% in the 4th quarter. Contour Asset Management LLC now owns 4,842,069 shares of the company’s stock worth $190,342,000 after acquiring an additional 211,034 shares during the period. Arohi Asset Management PTE Ltd. grew its holdings in shares of Global-e Online by 0.6% in the 4th quarter. Arohi Asset Management PTE Ltd. now owns 3,780,304 shares of the company’s stock worth $148,604,000 after acquiring an additional 23,213 shares during the period. Finally, Spyglass Capital Management LLC grew its holdings in Global-e Online by 63.0% during the 3rd quarter. Spyglass Capital Management LLC now owns 2,703,171 shares of the company’s stock valued at $96,665,000 after buying an additional 1,044,960 shares during the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.

About Global-e Online

Global-e Online Ltd. (NASDAQ: GLBE) is a leading cross-border e-commerce platform that enables online merchants to expand sales internationally. The company’s cloud-based solution integrates with major e-commerce systems to offer localized checkout experiences, dynamic currency conversion, import duties and taxes calculation, fraud prevention, and compliance with local trade regulations. By managing the end-to-end complexities of global transactions, Global-e helps retailers streamline their international operations and deliver a seamless shopping experience to customers worldwide.

Central to Global-e’s offering is a comprehensive suite of services that includes customizable checkout in the buyer’s local language, real-time display of prices in over 140 currencies, support for region-specific payment methods, and transparent calculation of duties and taxes at point of sale.