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

Globant (NYSE:GLOB) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

Several other research analysts have also issued reports on GLOB. Scotiabank increased their price target on shares of Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 21st. Canaccord Genuity Group lifted their target price on shares of Globant from $175.00 to $205.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Jefferies Financial Group upped their price target on Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Needham & Company LLC lifted their price objective on Globant from $200.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Citigroup increased their target price on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. One 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $226.21.

Globant Stock Performance

Shares of NYSE GLOB traded down $2.65 during midday trading on Friday, hitting $231.36. 455,795 shares of the company traded hands, compared to its average volume of 478,711. Globant has a 12-month low of $151.68 and a 12-month high of $251.50. The firm has a market cap of $9.97 billion, a P/E ratio of 60.41, a P/E/G ratio of 2.60 and a beta of 1.39. The stock has a 50-day moving average price of $206.06 and a 200 day moving average price of $189.41.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The firm had revenue of $587.46 million during the quarter, compared to analyst estimates of $586.72 million. During the same quarter in the prior year, the company earned $1.04 EPS. The business’s revenue was up 18.1% compared to the same quarter last year. As a group, equities analysts expect that Globant will post 5.06 earnings per share for the current year.

Hedge Funds Weigh In On Globant

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Equitable Trust Co. lifted its position in shares of Globant by 1.1% during the 3rd quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock valued at $902,000 after buying an additional 50 shares in the last quarter. 17 Capital Partners LLC boosted its position in shares of Globant by 1.6% in the second quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider’s stock worth $616,000 after purchasing an additional 55 shares during the period. ORG Partners LLC increased its stake in shares of Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after purchasing an additional 76 shares in the last quarter. Signaturefd LLC raised its position in shares of Globant by 46.0% during the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock valued at $58,000 after purchasing an additional 92 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Globant by 6.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,977 shares of the information technology services provider’s stock valued at $352,000 after buying an additional 118 shares in the last quarter. Hedge funds and other 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.