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

Globant (NYSE:GLOBGet Rating) had its price objective cut by KeyCorp from $291.00 to $232.00 in a research report released on Friday morning, The Fly reports. The brokerage currently has an overweight rating on the information technology services provider’s stock.

Several other research analysts have also recently commented on GLOB. Cowen decreased their target price on shares of Globant from $248.00 to $210.00 and set an outperform rating for the company in a research report on Wednesday, October 19th. The Goldman Sachs Group decreased their target price on shares of Globant from $290.00 to $250.00 and set a buy rating for the company in a research report on Thursday, September 29th. JPMorgan Chase & Co. decreased their target price on shares of Globant from $303.00 to $240.00 in a research report on Friday, October 14th. StockNews.com initiated coverage on shares of Globant in a research report on Wednesday, October 12th. They issued a hold rating for the company. Finally, Piper Sandler decreased their target price on shares of Globant from $249.00 to $219.00 and set an overweight rating for the company in a research report on Friday, October 21st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $240.00.

Globant Stock Down 4.0 %

Shares of NYSE:GLOB opened at $174.25 on Friday. Globant has a fifty-two week low of $155.01 and a fifty-two week high of $324.29. The firm has a 50-day simple moving average of $186.81 and a 200 day simple moving average of $193.68. The company has a market cap of $7.30 billion, a PE ratio of 53.62 and a beta of 1.41.

Globant (NYSE:GLOBGet Rating) last announced its quarterly earnings data on Thursday, August 18th. The information technology services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.02. Globant had a net margin of 8.31% and a return on equity of 11.93%. The business had revenue of $429.30 million during the quarter, compared to the consensus estimate of $426.22 million. During the same quarter in the prior year, the firm earned $0.71 EPS. The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. As a group, research analysts forecast that Globant will post 4.14 EPS for the current fiscal year.

Institutional Trading of Globant

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLOB. IFP Advisors Inc lifted its stake in Globant by 1,068.8% during the third quarter. IFP Advisors Inc now owns 187 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 171 shares during the last quarter. Urban Wealth Management LLC acquired a new stake in Globant during the second quarter valued at approximately $29,000. First Horizon Advisors Inc. lifted its stake in Globant by 852.9% during the second quarter. First Horizon Advisors Inc. now owns 324 shares of the information technology services provider’s stock valued at $55,000 after purchasing an additional 290 shares during the last quarter. Van ECK Associates Corp lifted its stake in Globant by 1,729.4% during the third quarter. Van ECK Associates Corp now owns 311 shares of the information technology services provider’s stock valued at $58,000 after purchasing an additional 294 shares during the last quarter. Finally, Castle Wealth Management LLC acquired a new stake in Globant during the second quarter valued at approximately $71,000. 88.96% of the stock is owned by institutional investors and hedge funds.

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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