Morgan Stanley trims Global-e Online price target, sees ‘buying opportunity’

Morgan Stanley lowered the firm’s price target on Global-e Online (GLBE) to $37 from $43 and keeps an Overweight rating on the shares. Promotional activity is normal and concerns are “meaningfully overblown in the context of a 1Q beat and raise,” the analyst tells investors. Global-e is seeing no take rate headwinds upon renewal, adds the analyst, who views the 9% move lower after earnings as “a buying opportunity.”