Deutsche Bank Aktiengesellschaft Begins Coverage on Globant (NYSE:GLOB)

Stock analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Globant (NYSE:GLOB) in a research note issued to investors on Thursday, Briefing.com reports. The firm set a “hold” rating and a $210.00 price target on the information technology services provider’s stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 1.41% from the company’s previous close.

A number of other analysts also recently issued reports on GLOB. Canaccord Genuity Group increased their price target on shares of Globant from $175.00 to $205.00 and gave the stock a “hold” rating in a report on Wednesday. KeyCorp increased their price target on shares of Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Wedbush lowered their price target on shares of Globant from $250.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, May 17th. Scotiabank increased their price target on shares of Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, StockNews.com downgraded shares of Globant from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $221.42.

Globant Trading Up 2.8 %

Shares of Globant stock opened at $207.07 on Thursday. Globant has a 12-month low of $151.68 and a 12-month high of $251.50. The firm has a market capitalization of $8.92 billion, a price-to-earnings ratio of 54.35, a PEG ratio of 1.98 and a beta of 1.41. The firm’s 50 day simple moving average is $184.53 and its two-hundred day simple moving average is $191.71.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The firm had revenue of $587.46 million for the quarter, compared to analyst estimates of $586.72 million. Globant had a net margin of 7.62% and a return on equity of 11.60%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.04 earnings per share. On average, sell-side analysts predict that Globant will post 5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP increased its holdings in shares of Globant by 6.8% in the 1st quarter. Wasatch Advisors LP now owns 3,336,764 shares of the information technology services provider’s stock valued at $673,693,000 after acquiring an additional 213,049 shares during the period. Capital International Investors increased its holdings in shares of Globant by 0.5% in the 4th quarter. Capital International Investors now owns 1,323,859 shares of the information technology services provider’s stock valued at $315,052,000 after acquiring an additional 6,707 shares during the period. Manning & Napier Advisors LLC acquired a new position in Globant in the 2nd quarter valued at $99,396,000. Sei Investments Co. increased its stake in Globant by 43.4% in the 2nd quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock valued at $91,432,000 after buying an additional 155,112 shares during the period. Finally, Norges Bank acquired a new position in Globant in the 4th quarter valued at $114,922,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Company Profile

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.