Globant (NYSE:GLOB) PT Lowered to $235.00

Globant (NYSE:GLOB) had its target price dropped by stock analysts at Citigroup from $275.00 to $235.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the information technology services provider’s stock. Citigroup’s target price would indicate a potential upside of 29.91% from the company’s previous close.

Several other equities analysts have also commented on the company. Needham & Company LLC increased their target price on Globant from $215.00 to $275.00 and gave the company a “buy” rating in a report on Friday, January 26th. Canaccord Genuity Group reissued a “hold” rating and issued a $230.00 price objective on shares of Globant in a research note on Tuesday, February 20th. KeyCorp lifted their price target on Globant from $266.00 to $272.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Piper Sandler increased their target price on shares of Globant from $257.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. lifted their price target on Globant from $266.00 to $275.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $244.24.

Globant Trading Up 0.4 %

Globant stock opened at $180.90 on Monday. Globant has a 12-month low of $135.40 and a 12-month high of $251.50. The stock has a market cap of $7.79 billion, a P/E ratio of 49.83, a PEG ratio of 1.36 and a beta of 1.35. The company has a 50-day moving average price of $207.29 and a 200 day moving average price of $212.53.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). Globant had a net margin of 7.56% and a return on equity of 11.38%. The company had revenue of $580.71 million for the quarter, compared to analyst estimates of $579.70 million. As a group, analysts forecast that Globant will post 5.03 EPS for the current year.

Institutional Trading of Globant

A number of institutional investors and hedge funds have recently bought and sold shares of the business. National Bank of Canada FI lifted its position in shares of Globant by 1.9% during the third quarter. National Bank of Canada FI now owns 3,447 shares of the information technology services provider’s stock worth $693,000 after purchasing an additional 65 shares in the last quarter. CWM LLC boosted its holdings in shares of Globant by 20.9% in the 3rd quarter. CWM LLC now owns 504 shares of the information technology services provider’s stock valued at $100,000 after buying an additional 87 shares during the period. SG Americas Securities LLC grew its holdings in shares of Globant by 270.0% during the third quarter. SG Americas Securities LLC now owns 4,233 shares of the information technology services provider’s stock valued at $837,000 after purchasing an additional 3,089 shares during the last quarter. Handelsbanken Fonder AB increased its position in Globant by 27.4% in the third quarter. Handelsbanken Fonder AB now owns 7,900 shares of the information technology services provider’s stock worth $1,563,000 after buying an additional 1,700 shares during the period. Finally, Manning & Napier Group LLC lifted its position in Globant by 10.3% in the 3rd quarter. Manning & Napier Group LLC now owns 47,598 shares of the information technology services provider’s stock valued at $9,417,000 after purchasing an additional 4,463 shares during the last quarter. Institutional investors and hedge funds 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.