Globant (NYSE:GLOB) Upgraded to Neutral at Redburn Atlantic

Redburn Atlantic upgraded shares of Globant (NYSE:GLOB) from a sell rating to a neutral rating in a report issued on Tuesday morning, Marketbeat.com reports. They currently have $150.00 price objective on the information technology services provider’s stock, up from their previous price objective of $140.00.

GLOB has been the topic of several other research reports. Jefferies Financial Group upped their price target on Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Susquehanna assumed coverage on shares of Globant in a research report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price target on the stock. Canaccord Genuity Group dropped their price objective on shares of Globant from $205.00 to $165.00 and set a “hold” rating for the company in a report on Monday. TD Cowen increased 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, Needham & Company LLC dropped their price target on shares of Globant from $265.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $221.39.

Globant Trading Down 3.1 %

Shares of GLOB opened at $148.14 on Tuesday. The firm has a 50-day moving average price of $208.60 and a 200 day moving average price of $209.71. Globant has a 12-month low of $147.62 and a 12-month high of $238.32. The firm has a market capitalization of $6.38 billion, a P/E ratio of 39.82, a P/E/G ratio of 2.38 and a beta of 1.39.

Globant (NYSE:GLOB) last announced its quarterly 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). Globant had a return on equity of 11.83% and a net margin of 6.86%. The firm had revenue of $642.48 million for the quarter, compared to analyst estimates of $644.42 million. Equities research analysts predict that Globant will post 5.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Globant

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Centricity Wealth Management LLC purchased a new position in shares of Globant during the fourth quarter worth about $38,000. Kestra Investment Management LLC acquired a new stake in shares of Globant in the fourth quarter valued at approximately $38,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Globant in the third quarter valued at about $40,000. Van Berkom & Associates Inc. purchased a new stake in shares of Globant during the fourth quarter worth approximately $45,000. Finally, Signaturefd LLC lifted its holdings in shares of Globant by 46.0% during the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 92 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

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.