Globant (NYSE:GLOB) Given New $217.00 Price Target at Piper Sandler

Globant (NYSE:GLOB) had its price target increased by Piper Sandler from $212.00 to $217.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 18.47% from the company’s current price.

Other analysts have also issued research reports about the stock. Wedbush reiterated an “outperform” rating and issued a $250.00 price objective on shares of Globant in a research note on Tuesday, September 19th. JPMorgan Chase & Co. lifted their price target on shares of Globant from $194.00 to $236.00 and gave the company an “overweight” rating in a research note on Tuesday, August 22nd. StockNews.com initiated coverage on Globant in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Citigroup boosted their target price on Globant from $185.00 to $215.00 in a research report on Tuesday, July 25th. Finally, Piper Sandler Companies cut their price target on Globant from $230.00 to $212.00 and set an “overweight” rating on the stock in a report on Friday, November 10th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $217.57.

Globant Trading Down 1.5 %

Shares of GLOB opened at $183.17 on Friday. The firm’s fifty day simple moving average is $189.38 and its two-hundred day simple moving average is $180.95. Globant has a 12 month low of $135.40 and a 12 month high of $210.00. The stock has a market capitalization of $7.74 billion, a P/E ratio of 53.25 and a beta of 1.31.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, August 17th. The information technology services provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.06). The business had revenue of $497.53 million for the quarter, compared to the consensus estimate of $496.47 million. Globant had a net margin of 7.74% and a return on equity of 11.40%. As a group, research analysts predict that Globant will post 4.62 EPS for the current fiscal year.

Institutional Trading of Globant

A number of institutional investors and hedge funds have recently modified their holdings of GLOB. Perpetual Ltd bought a new position in shares of Globant during the 1st quarter valued at approximately $222,362,000. Wasatch Advisors LP lifted its stake in Globant by 18.1% in the second quarter. Wasatch Advisors LP now owns 2,994,433 shares of the information technology services provider’s stock valued at $538,159,000 after purchasing an additional 459,850 shares during the last quarter. Norges Bank bought a new position in Globant during the fourth quarter valued at $71,313,000. Price T Rowe Associates Inc. MD increased its position in Globant by 15.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,086,471 shares of the information technology services provider’s stock worth $519,021,000 after buying an additional 416,119 shares during the last quarter. Finally, Capital World Investors raised its stake in shares of Globant by 224.8% in the second quarter. Capital World Investors now owns 594,316 shares of the information technology services provider’s stock valued at $106,810,000 after buying an additional 411,316 shares during the period. 91.49% of the stock is owned by hedge funds and other institutional investors.

Globant Company Profile

Globant SA operates as a technology services company worldwide. The company offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.