Morgan Stanley Cuts Global-e to Equal-Weight, Lifts Target to $44
Updated
Updated · Yahoo Finance · Aug 10
Morgan Stanley Cuts Global-e to Equal-Weight, Lifts Target to $44
1 articles · Updated · Yahoo Finance · Aug 10
Summary
Morgan Stanley downgraded Global-e Online to Equal-weight from Overweight, saying the stock now more fully reflects the company’s durable growth and competitive position.
The bank still raised its price target to $44 from $37 after extending its valuation model to 2028 and adding the impact of the Passport acquisition.
Q2 gross merchandise volume is expected to beat the high end of guidance by 1% to 2%, helped by Alo strength, promotions, major soccer events and favorable foreign exchange, while Q3 should track roughly in line with consensus.
Passport is assumed to add about $25 million of quarterly revenue in Q3 and Q4 2026, with 2027 and 2028 gross profit and adjusted EBITDA estimates lifted about 2%.
Morgan Stanley now sees 2026 revenue at $1.32 billion and 2027 revenue at $1.77 billion, with Aug. 12 earnings the next key catalyst and a bigger Managed Markets ramp needed to revive the bull case.