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

StockNews.com lowered shares of Globant (NYSE:GLOB) from a hold rating to a sell rating in a research note issued to investors on Sunday.

A number of other equities research analysts have also commented on GLOB. Canaccord Genuity Group dropped their target price on Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a research report on Monday, February 24th. Susquehanna dropped their target price on Globant from $225.00 to $160.00 and set a “positive” rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler decreased their price target on Globant from $230.00 to $154.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target on shares of Globant in a report on Wednesday, March 12th. Finally, Jefferies Financial Group boosted their price target on Globant from $240.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Globant currently has a consensus rating of “Moderate Buy” and an average price target of $204.00.

Globant Stock Down 1.1%

Shares of NYSE GLOB opened at $128.83 on Friday. The business’s 50 day moving average price is $119.65 and its 200 day moving average price is $179.98. The firm has a market cap of $5.67 billion, a P/E ratio of 34.63, a P/E/G ratio of 2.38 and a beta of 1.37. Globant has a 52 week low of $96.23 and a 52 week high of $238.32.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GLOB. Barclays PLC raised its stake 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 worth $4,467,000 after buying an additional 12,862 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Globant during the 3rd quarter worth approximately $40,000. Franklin Resources Inc. raised 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 worth $2,704,000 after buying an additional 71 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Globant by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock worth $469,316,000 after buying an additional 153,385 shares during the period. Finally, Harbour Capital Advisors LLC raised its stake in shares of Globant by 36.8% during the 4th quarter. Harbour Capital Advisors LLC now owns 1,822 shares of the information technology services provider’s stock worth $400,000 after buying an additional 490 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

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.