Morgan Stanley lowered its price target on Global-E Online Ltd (NASDAQ:GLBE) to $37 from $43 while keeping an Overweight rating. The stock trades at $27.54, near its 52-week low of $26.84, after dropping 15.6% in the past week and 29.9% year-to-date.
The firm made minor adjustments to its 2026 and 2027 estimates, which remain above consensus.
Morgan Stanley now applies a 16x multiple to its revised 2027 adjusted EBITDA of $387.6 million, down from a 19x multiple previously, reflecting recent peer multiple compression.
The stock trades at roughly 17x the firm's revised 2027 GAAP EPS, implying a 39% CAGR for 2026-2028. Despite the cut, Morgan Stanley views the stock as highly attractive at current levels.
