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

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

Several other analysts have also commented on the stock. Susquehanna started coverage on shares of Globant in a research note on Tuesday, December 17th. They set a “positive” rating and a $255.00 target price for the company. Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Canaccord Genuity Group reduced their target price on Globant from $205.00 to $165.00 and set a “hold” rating for the company in a report on Monday, February 24th. Finally, Piper Sandler dropped their price target on Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $216.56.

Globant Price Performance

GLOB opened at $100.14 on Friday. The business has a 50 day moving average price of $164.90 and a two-hundred day moving average price of $197.44. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47. Globant has a 1-year low of $96.93 and a 1-year high of $238.32.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.39). The firm had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. Equities analysts expect that Globant will post 5.73 EPS for the current fiscal year.

Institutional Trading of Globant

Hedge funds and other institutional investors have recently modified their holdings of the company. Centricity Wealth Management LLC acquired a new position in Globant in the 4th quarter worth about $38,000. Kestra Investment Management LLC acquired a new position in Globant in the fourth quarter worth approximately $38,000. Wilmington Savings Fund Society FSB bought a new position in Globant during the third quarter valued at approximately $40,000. Van Berkom & Associates Inc. acquired a new stake in Globant in the fourth quarter valued at approximately $45,000. Finally, Promus Capital LLC bought a new stake in Globant in the fourth quarter worth approximately $64,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

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.