UBS Group Lowers Globant (NYSE:GLOB) Price Target to $190.00

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

Several other research firms have also recently weighed in on GLOB. Susquehanna assumed coverage on Globant in a research report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price objective on the stock. JPMorgan Chase & Co. dropped their price target on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Canaccord Genuity Group lowered their price objective on Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research report on Monday. StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. Finally, Jefferies Financial Group increased their price target on shares of Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $221.39.

Globant Price Performance

NYSE GLOB opened at $153.01 on Wednesday. Globant has a 1 year low of $151.38 and a 1 year high of $238.32. The stock has a market capitalization of $6.59 billion, a PE ratio of 41.13, a PEG ratio of 2.38 and a beta of 1.39. The business’s 50-day moving average is $210.10 and its 200 day moving average is $210.14.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.39). The business had revenue of $642.48 million for 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, equities research analysts anticipate that Globant will post 5.73 earnings per share for the current year.

Hedge Funds Weigh In On Globant

A number of hedge funds have recently bought and sold shares of GLOB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Globant by 163.4% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 122,500 shares of the information technology services provider’s stock worth $26,266,000 after acquiring an additional 76,000 shares during the period. Vident Advisory LLC bought a new stake in Globant in the 4th quarter worth approximately $235,000. Teza Capital Management LLC purchased a new stake in Globant during the 4th quarter valued at $8,650,000. Royal Bank of Canada raised its stake in Globant by 15.4% during the 4th quarter. Royal Bank of Canada now owns 254,107 shares of the information technology services provider’s stock valued at $54,486,000 after buying an additional 33,921 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in shares of Globant during the 4th quarter valued at $171,000. 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.