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

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

GLOB has been the subject of several other reports. Jefferies Financial Group upped their target price on Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Piper Sandler reissued an “overweight” rating and issued a $240.00 target price (up from $238.00) on shares of Globant in a research report on Friday, August 16th. Needham & Company LLC raised their target price on shares of Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, August 16th. TD Cowen boosted their price target on Globant from $220.00 to $230.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Globant in a research note on Thursday, August 22nd. They set a “hold” rating and a $210.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Globant presently has a consensus rating of “Moderate Buy” and an average target price of $224.00.

Globant Trading Down 0.7 %

GLOB opened at $217.28 on Wednesday. The stock has a 50-day moving average of $201.99 and a 200 day moving average of $187.00. Globant has a 12 month low of $151.68 and a 12 month high of $251.50. The firm has a market cap of $9.36 billion, a P/E ratio of 57.03, a P/E/G ratio of 2.61 and a beta of 1.39.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The company had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. Globant’s revenue was up 18.1% on a year-over-year basis. During the same period last year, the company earned $1.04 earnings per share. On average, research analysts forecast that Globant will post 5.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP boosted its stake in Globant by 529.6% during the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 143 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Globant in the second quarter valued at $31,000. BOKF NA boosted its position in Globant by 15,800.0% during the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 158 shares during the period. ORG Partners LLC increased its stake in Globant by 65.5% in the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after buying an additional 76 shares during the period. Finally, American National Bank & Trust raised its holdings in shares of Globant by 430.2% during the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock worth $45,000 after acquiring an additional 185 shares in the last quarter. Institutional investors 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.