Globant (NYSE:GLOB) Lowered to “Sell” at StockNews.com

StockNews.com cut shares of Globant (NYSE:GLOBFree Report) from a hold rating to a sell rating in a research note published on Monday morning.

Other equities research analysts have also recently issued reports about the company. Piper Sandler raised their price target on Globant from $257.00 to $290.00 and gave the company an overweight rating in a report on Friday, February 16th. Mizuho reissued a buy rating and set a $279.00 target price (down previously from $283.00) on shares of Globant in a research note on Tuesday, February 20th. Citigroup dropped their price target on Globant from $275.00 to $235.00 and set a buy rating for the company in a research note on Monday, April 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Globant from $273.00 to $257.00 and set an overweight rating on the stock in a research report on Thursday, May 2nd. Finally, UBS Group upped their target price on shares of Globant from $230.00 to $240.00 and gave the stock a neutral rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $242.59.

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Globant Trading Up 2.2 %

Globant stock opened at $178.28 on Monday. Globant has a 12-month low of $141.30 and a 12-month high of $251.50. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of 49.11, a P/E/G ratio of 1.32 and a beta of 1.35. The firm has a 50 day moving average of $194.34 and a 200 day moving average of $212.06.

Globant (NYSE:GLOBGet Free Report) last announced its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $1.26 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.08). Globant had a net margin of 7.56% and a return on equity of 11.38%. The firm had revenue of $580.71 million for the quarter, compared to the consensus estimate of $579.70 million. On average, analysts predict that Globant will post 5.03 EPS for the current year.

Institutional Investors Weigh In On Globant

Institutional investors have recently made changes to their positions in the company. Accent Capital Management LLC purchased a new stake in Globant in the 4th quarter worth about $29,000. CI Investments Inc. raised its holdings 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 worth $26,000 after buying an additional 72 shares during the period. BOKF NA raised its holdings in shares of Globant by 15,800.0% in the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after buying an additional 158 shares during the period. Principal Securities Inc. purchased a new position in Globant during the 4th quarter valued at $56,000. Finally, RiverPark Advisors LLC bought a new position in Globant in the 1st quarter valued at $54,000. Institutional investors own 91.60% of the company’s stock.

About Globant

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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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