Globant (NYSE:GLOB) Coverage Initiated at Mizuho

Analysts at Mizuho began coverage on shares of Globant (NYSE:GLOBGet Free Report) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $283.00 price target on the information technology services provider’s stock. Mizuho’s target price would suggest a potential upside of 20.09% from the company’s current price.

A number of other equities analysts have also weighed in on GLOB. UBS Group boosted their price target on shares of Globant from $210.00 to $230.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 13th. Canaccord Genuity Group assumed coverage on shares of Globant in a research note on Wednesday, December 6th. They issued a “hold” rating and a $230.00 price target on the stock. StockNews.com assumed coverage on shares of Globant in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. TheStreet raised shares of Globant from a “c+” rating to a “b-” rating in a research note on Wednesday, December 13th. Finally, Piper Sandler Companies cut their target price on shares of Globant from $230.00 to $212.00 and set an “overweight” rating on the stock in a research note on Friday, November 10th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Globant presently has an average rating of “Moderate Buy” and an average target price of $236.88.

Get Our Latest Analysis on GLOB

Globant Stock Down 3.8 %

Shares of NYSE GLOB opened at $235.65 on Tuesday. The company’s 50-day simple moving average is $230.64 and its 200-day simple moving average is $202.84. Globant has a 52-week low of $135.40 and a 52-week high of $250.39. The firm has a market cap of $10.00 billion, a price-to-earnings ratio of 65.82 and a beta of 1.43.

Globant (NYSE:GLOBGet Free Report) last announced its earnings results on Thursday, November 16th. The information technology services provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.06). Globant had a net margin of 7.76% and a return on equity of 11.34%. The company had revenue of $545.28 million during the quarter, compared to analyst estimates of $544.64 million. Equities research analysts anticipate that Globant will post 4.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. CI Investments Inc. boosted its stake in Globant by 122.0% during the 3rd quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 72 shares during the period. Cornerstone Planning Group LLC acquired a new stake in Globant during the 2nd quarter worth $50,000. Fortis Capital Advisors LLC acquired a new stake in Globant during the 1st quarter worth $55,000. Rockefeller Capital Management L.P. boosted its stake in Globant by 303.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 375 shares of the information technology services provider’s stock worth $62,000 after purchasing an additional 282 shares during the period. Finally, Advisors Asset Management Inc. acquired a new stake in Globant during the 1st quarter worth $72,000. Institutional investors and hedge funds own 91.49% of the company’s stock.

About Globant

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Globant SA operates as a technology services company worldwide. The company offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.

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