Globant (NYSE:GLOB) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Globant (NYSE:GLOB) from a sell rating to a hold rating in a report published on Monday morning.

Other research analysts have also recently issued research reports about the stock. Guggenheim cut their price target on shares of Globant from $150.00 to $125.00 and set a “buy” rating for the company in a research note on Friday. Scotiabank cut their price target on shares of Globant from $170.00 to $140.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 29th. Redburn Atlantic upgraded shares of Globant from a “sell” rating to a “neutral” rating and raised their price target for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. Jefferies Financial Group raised their price target on shares of Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group downgraded Globant from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $225.00 to $120.00 in a report on Friday. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $179.19.

Globant Stock Up 3.8%

Shares of GLOB opened at $105.36 on Monday. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of 28.32, a P/E/G ratio of 2.38 and a beta of 1.37. Globant has a 12 month low of $88.03 and a 12 month high of $238.32. The company has a 50-day moving average price of $118.15 and a two-hundred day moving average price of $176.21.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.08). The business had revenue of $611.09 million for the quarter, compared to the consensus estimate of $622.18 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.53 EPS. Equities research analysts expect that Globant will post 5.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Globant

Institutional investors have recently bought and sold shares of the business. Congress Wealth Management LLC DE increased its stake in shares of Globant by 2.9% in 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 buying an additional 76 shares during the period. Signaturefd LLC increased its stake in shares of Globant by 29.7% in the 1st quarter. Signaturefd LLC now owns 389 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 89 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of Globant by 0.6% in 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 buying an additional 110 shares during the period. Blue Trust Inc. increased its stake in shares of Globant by 23.6% in the 1st quarter. Blue Trust Inc. now owns 607 shares of the information technology services provider’s stock valued at $71,000 after buying an additional 116 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Globant by 2.5% in 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 buying an additional 118 shares during the period. 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.