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

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

GLOB has been the subject of several other research reports. Scotiabank dropped their target price on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a research report on Monday, February 24th. Needham & Company LLC reissued a “buy” rating and issued a $220.00 target price on shares of Globant in a report on Wednesday, March 12th. Susquehanna lowered their target price on Globant from $255.00 to $225.00 and set a “positive” rating for the company in a report on Tuesday, April 8th. Piper Sandler cut their price target on Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. dropped their target price on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $214.69.

Globant Trading Up 0.2 %

GLOB opened at $108.08 on Monday. Globant has a twelve month low of $96.23 and a twelve month high of $238.32. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 29.05, a PEG ratio of 2.38 and a beta of 1.50. The company has a fifty day simple moving average of $148.05 and a 200 day simple moving average of $192.43.

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

Hedge Funds Weigh In On Globant

Several hedge funds have recently made changes to their positions in GLOB. Quantinno Capital Management LP boosted its holdings in Globant by 14.0% during the third quarter. Quantinno Capital Management LP now owns 1,502 shares of the information technology services provider’s stock worth $298,000 after buying an additional 185 shares in the last quarter. Barclays PLC lifted its position in shares of Globant by 132.9% during the 3rd quarter. Barclays PLC now owns 22,537 shares of the information technology services provider’s stock valued at $4,467,000 after acquiring an additional 12,862 shares during the last quarter. M&T Bank Corp boosted its stake in shares of Globant by 3.8% during the 3rd quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock worth $326,000 after acquiring an additional 60 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Globant by 26.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 3,312 shares of the information technology services provider’s stock worth $656,000 after acquiring an additional 688 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Globant in the 3rd quarter worth $40,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

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.