UBS Group Has Lowered Expectations for Globant (NYSE:GLOB) Stock Price

Globant (NYSE:GLOB) had its price target trimmed by UBS Group from $217.00 to $190.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the information technology services provider’s stock.

Other equities analysts also recently issued reports about the stock. Susquehanna assumed coverage on shares of Globant in a research note on Tuesday, December 17th. They set a “positive” rating and a $255.00 price objective for the company. StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. JPMorgan Chase & Co. lowered their price target on shares of Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. TD Cowen raised their target price on shares of Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Redburn Atlantic raised shares of Globant from a “sell” rating to a “neutral” rating and raised their target price for the stock from $140.00 to $150.00 in a report on Tuesday. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $221.39.

Globant Stock Up 1.5 %

GLOB opened at $150.29 on Wednesday. Globant has a 12 month low of $145.42 and a 12 month high of $238.32. The company has a fifty day simple moving average of $207.17 and a 200 day simple moving average of $209.47. The stock has a market cap of $6.48 billion, a P/E ratio of 40.40, a P/E/G ratio of 2.38 and a beta of 1.39.

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

Hedge Funds Weigh In On Globant

Hedge funds and other institutional investors have recently bought and sold shares of the company. Equitable Trust Co. boosted its holdings in Globant by 1.1% during the third quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock worth $902,000 after purchasing an additional 50 shares during the last quarter. M&T Bank Corp lifted 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 valued at $326,000 after buying an additional 60 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Globant by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock valued at $2,704,000 after buying an additional 71 shares in the last quarter. Congress Wealth Management LLC DE lifted its stake in Globant by 2.9% in the 4th quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider’s stock worth $575,000 after purchasing an additional 76 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Globant by 46.0% in the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 92 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

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.