Morgan Stanley cuts Global-e rating to equal-weight, raises price target to $44

Morgan Stanley has downgraded Global-e Online to Equal-weight from Overweight but raised its price target to $44, stating the market now better reflects the company's growth. The firm anticipates strong second-quarter gross merchandise volume and has incorporated the Passport acquisition into its estimates, increasing revenue and adjusted EBITDA forecasts for 2026 and 2027. The upcoming Aug. 12 earnings report is highlighted as a key catalyst.