Globant (NYSE:GLOB) Rating Increased to Neutral at Redburn Atlantic

Redburn Atlantic upgraded shares of Globant (NYSE:GLOB) from a sell rating to a neutral rating in a report released on Tuesday, Marketbeat.com reports. The brokerage currently has $150.00 price target on the information technology services provider’s stock, up from their prior price target of $140.00.

Other equities analysts also recently issued reports about the stock. Susquehanna assumed coverage on shares of Globant in a research note on Tuesday, December 17th. They issued a “positive” rating and a $255.00 target price on the stock. Citigroup increased their price objective on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. UBS Group decreased their target price on Globant from $222.00 to $217.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Piper Sandler cut their price target on Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Finally, Jefferies Financial Group lifted their price objective on Globant from $240.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $222.89.

Globant Stock Performance

GLOB opened at $156.22 on Tuesday. The stock’s 50 day moving average price is $212.78 and its 200-day moving average price is $210.75. Globant has a one year low of $151.38 and a one year high of $238.32. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of 41.99, a P/E/G ratio of 2.38 and a beta of 1.39.

Globant (NYSE:GLOB) last released its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The business had revenue of $642.48 million during the quarter, compared to analysts’ expectations of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. As a group, analysts predict that Globant will post 5.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Globant

Several institutional investors have recently added to or reduced their stakes in the business. Equitable Trust Co. increased its holdings in shares of Globant by 1.1% during the third quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock valued at $902,000 after acquiring an additional 50 shares in the last quarter. M&T Bank Corp increased its stake in Globant by 3.8% during the 3rd quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock valued at $326,000 after purchasing an additional 60 shares in the last quarter. Franklin Resources Inc. increased its stake in Globant by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock valued at $2,704,000 after purchasing an additional 71 shares in the last quarter. Congress Wealth Management LLC DE raised its holdings in shares of Globant by 2.9% in the fourth quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider’s stock worth $575,000 after buying an additional 76 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Globant by 46.0% during the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after buying an additional 92 shares during the period. Institutional investors and hedge funds 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.