Globant (NYSE:GLOB) Price Target Lowered to $153.00 at Mizuho

Globant (NYSE:GLOB) had its price objective reduced by Mizuho from $194.00 to $153.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an outperform rating on the information technology services provider’s stock.

Several other analysts have also weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Jefferies Financial Group boosted 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. Needham & Company LLC lowered their price objective on Globant from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday. Susquehanna lowered their price objective on Globant from $225.00 to $160.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. Finally, Guggenheim lowered their price objective on Globant from $150.00 to $125.00 and set a “buy” rating for the company in a report on Friday. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.19.

Globant Stock Performance

Shares of NYSE GLOB opened at $105.36 on Monday. Globant has a 1 year low of $88.03 and a 1 year high of $238.32. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 2.38 and a beta of 1.37. The stock’s 50-day simple moving average is $118.15 and its 200-day simple moving average is $176.21.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.08). Globant had a return on equity of 11.83% and a net margin of 6.86%. The business had revenue of $611.09 million for the quarter, compared to analysts’ expectations of $622.18 million. During the same period in the previous year, the firm posted $1.53 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. As a group, research analysts predict that Globant will post 5.73 EPS for the current year.

Hedge Funds Weigh In On Globant

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Congress Wealth Management LLC DE lifted its position in shares of Globant by 2.9% during the 4th quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider’s stock valued at $575,000 after acquiring an additional 76 shares during the last quarter. Signaturefd LLC lifted its position in shares of Globant by 29.7% during the 1st quarter. Signaturefd LLC now owns 389 shares of the information technology services provider’s stock valued at $46,000 after acquiring an additional 89 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Globant by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 18,490 shares of the information technology services provider’s stock valued at $3,965,000 after acquiring an additional 110 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Globant by 23.6% during the 1st quarter. Blue Trust Inc. now owns 607 shares of the information technology services provider’s stock valued at $71,000 after acquiring an additional 116 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Globant by 2.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,813 shares of the information technology services provider’s stock valued at $1,032,000 after acquiring an additional 118 shares during the last quarter. 91.60% of the stock is currently 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.