Globant (NYSE:GLOB) Given New $235.00 Price Target at Citigroup

Globant (NYSE:GLOB) had its price target decreased by Citigroup from $275.00 to $235.00 in a research note released on Monday, Benzinga reports. Citigroup currently has a buy rating on the information technology services provider’s stock.

A number of other research analysts also recently issued reports on GLOB. Piper Sandler increased their price objective on Globant from $257.00 to $290.00 and gave the stock an overweight rating in a report on Friday, February 16th. KeyCorp increased their price objective on Globant from $266.00 to $272.00 and gave the stock an overweight rating in a report on Friday, February 16th. UBS Group increased their price objective on Globant from $230.00 to $240.00 and gave the stock a neutral rating in a report on Monday, February 26th. JPMorgan Chase & Co. increased their price objective on Globant from $266.00 to $275.00 and gave the stock an overweight rating in a report on Wednesday, February 14th. Finally, HSBC decreased their price target on Globant from $275.00 to $270.00 and set a buy rating for the company in a research note on Wednesday, April 3rd. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Globant currently has an average rating of Moderate Buy and an average price target of $244.24.

Globant Price Performance

NYSE GLOB opened at $180.19 on Monday. The firm has a market cap of $7.76 billion, a P/E ratio of 49.64, a P/E/G ratio of 1.36 and a beta of 1.35. The stock’s 50-day moving average is $208.27 and its 200-day moving average is $212.67. Globant has a one year low of $135.40 and a one year high of $251.50.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The business had revenue of $580.71 million for the quarter, compared to analyst estimates of $579.70 million. Globant had a return on equity of 11.38% and a net margin of 7.56%. Equities analysts anticipate that Globant will post 5.03 EPS for the current year.

Institutional Trading of Globant

Hedge funds have recently made changes to their positions in the business. Trust Point Inc. acquired a new stake in shares of Globant in the fourth quarter valued at approximately $1,741,000. DekaBank Deutsche Girozentrale lifted its holdings in Globant by 146.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 45,190 shares of the information technology services provider’s stock worth $10,734,000 after purchasing an additional 26,850 shares during the last quarter. New York Life Investment Management LLC lifted its holdings in Globant by 112.6% during the 3rd quarter. New York Life Investment Management LLC now owns 4,411 shares of the information technology services provider’s stock worth $873,000 after purchasing an additional 2,336 shares during the last quarter. Deutsche Bank AG lifted its holdings in Globant by 1.2% during the 3rd quarter. Deutsche Bank AG now owns 138,062 shares of the information technology services provider’s stock worth $27,316,000 after purchasing an additional 1,584 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Globant during the 4th quarter worth approximately $4,587,000. 91.60% of the stock is owned by institutional investors and hedge funds.

About Globant

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.