Globant (NYSE:GLOB) Price Target Lowered to $232.00 at KeyCorp

Globant (NYSE:GLOBGet Rating) had its price objective reduced by KeyCorp from $291.00 to $232.00 in a research note issued on Friday, The Fly reports. The brokerage currently has an “overweight” rating on the information technology services provider’s stock. KeyCorp’s price objective points to a potential upside of 33.14% from the stock’s previous close.

A number of other equities analysts also recently issued reports on GLOB. Cowen reduced their price target on Globant from $248.00 to $210.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 19th. The Goldman Sachs Group dropped their price objective on shares of Globant from $290.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, September 29th. JPMorgan Chase & Co. dropped their price objective on shares of Globant from $303.00 to $240.00 in a report on Friday, October 14th. StockNews.com started coverage on shares of Globant in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Cowen dropped their price objective on shares of Globant from $248.00 to $210.00 and set an “outperform” rating on the stock in a report on Wednesday, October 19th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $240.00.

Globant Trading Down 4.0 %

Shares of GLOB stock opened at $174.25 on Friday. The business’s fifty day simple moving average is $186.81 and its 200-day simple moving average is $193.84. The company has a market cap of $7.30 billion, a PE ratio of 53.62 and a beta of 1.41. Globant has a 12-month low of $155.01 and a 12-month high of $324.29.

Globant (NYSE:GLOBGet Rating) last issued its quarterly earnings results on Thursday, August 18th. The information technology services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.02. The business had revenue of $429.30 million for the quarter, compared to the consensus estimate of $426.22 million. Globant had a return on equity of 11.93% and a net margin of 8.31%. The business’s quarterly revenue was up 40.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 earnings per share. On average, equities analysts forecast that Globant will post 4.14 earnings per share for the current year.

Institutional Investors Weigh In On Globant

Hedge funds have recently modified their holdings of the company. Campbell & CO Investment Adviser LLC acquired a new stake in Globant in the 1st quarter valued at about $750,000. Advisor Group Holdings Inc. boosted its position in Globant by 1.7% in the 1st quarter. Advisor Group Holdings Inc. now owns 18,313 shares of the information technology services provider’s stock valued at $4,786,000 after buying an additional 304 shares during the period. Comerica Bank boosted its position in Globant by 12.0% in the 1st quarter. Comerica Bank now owns 2,048 shares of the information technology services provider’s stock valued at $480,000 after buying an additional 220 shares during the period. WINTON GROUP Ltd purchased a new position in Globant in the 1st quarter valued at approximately $344,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Globant by 7.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 529,933 shares of the information technology services provider’s stock valued at $92,207,000 after buying an additional 34,498 shares during the period. 88.96% of the stock is owned by hedge funds and other institutional investors.

Globant Company Profile

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Globant SA operates as a technology services company worldwide. It offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.

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