StockNews.com Upgrades Globant (NYSE:GLOB) to Hold

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

Several other research firms have also weighed in on GLOB. UBS Group reduced their target price on Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Jefferies Financial Group lifted their target price on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. The Goldman Sachs Group lowered Globant from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $225.00 to $120.00 in a report on Friday. Mizuho reduced their target price on Globant from $194.00 to $153.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Piper Sandler lowered Globant from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $154.00 to $116.00 in a report on Friday. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $179.19.

Globant Stock Up 3.8%

Shares of Globant stock opened at $105.36 on Monday. Globant has a 12 month low of $88.03 and a 12 month high of $238.32. The business has a fifty day simple moving average of $118.15 and a 200 day simple moving average of $176.21. The stock has a market cap of $4.64 billion, a PE ratio of 28.32, a price-to-earnings-growth ratio of 2.38 and a beta of 1.37.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.08). Globant had a return on equity of 11.83% and a net margin of 6.86%. The company had revenue of $611.09 million for the quarter, compared to analyst estimates of $622.18 million. During the same period last year, the firm earned $1.53 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts expect that Globant will post 5.73 EPS for the current fiscal year.

Institutional Trading of Globant

A number of institutional investors have recently modified their holdings of the company. Vancity Investment Management Ltd bought a new stake in shares of Globant in the first quarter valued at about $896,000. Goldman Sachs Group Inc. raised its holdings in Globant by 69.3% during the first quarter. Goldman Sachs Group Inc. now owns 74,237 shares of the information technology services provider’s stock worth $8,739,000 after acquiring an additional 30,386 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Globant during the first quarter worth about $2,403,000. Scientech Research LLC bought a new stake in Globant during the first quarter worth about $889,000. Finally, Petrus Trust Company LTA bought a new stake in Globant during the first quarter worth about $204,000. 91.60% of the stock is currently owned by 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.