Globant (NYSE:GLOB – Get Free Report) had its price objective cut by JPMorgan Chase & Co. from $273.00 to $257.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 38.47% from the company’s current price.
A number of other research firms also recently commented on GLOB. Guggenheim started coverage on Globant in a report on Tuesday, March 19th. They issued a “buy” rating and a $250.00 price objective on the stock. UBS Group increased their price target on shares of Globant from $230.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Needham & Company LLC boosted their price objective on shares of Globant from $215.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Wedbush reaffirmed an “outperform” rating and issued a $250.00 target price on shares of Globant in a research report on Friday, February 16th. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $230.00 price target on shares of Globant in a research note on Tuesday, February 20th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $244.35.
Check Out Our Latest Report on GLOB
Globant Stock Up 3.4 %
Globant (NYSE:GLOB – Get Free Report) last released its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.08). The firm had revenue of $580.71 million for the quarter, compared to analysts’ expectations of $579.70 million. Globant had a return on equity of 11.38% and a net margin of 7.56%. As a group, research analysts anticipate that Globant will post 5.03 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in GLOB. CI Investments Inc. increased its position in shares of Globant by 122.0% in the third quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 72 shares in the last quarter. Accent Capital Management LLC purchased a new position in Globant during the 4th quarter valued at about $29,000. RiverPark Advisors LLC acquired a new position in Globant during the first quarter worth about $54,000. Principal Securities Inc. acquired a new position in Globant during the fourth quarter worth about $56,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Globant in the fourth quarter valued at about $68,000. 91.60% of the stock is owned by hedge funds and other institutional investors.
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.
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