Globant (NYSE:GLOB) Shares Gap Up – Still a Buy?

Shares of Globant S.A. (NYSE:GLOB) gapped up prior to trading on Monday . The stock had previously closed at $151.72, but opened at $158.39. Globant shares last traded at $158.29, with a volume of 715,654 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GLOB. Scotiabank lowered their price target on Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a research note on Monday. UBS Group lowered their target price on Globant from $222.00 to $217.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. 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. TD Cowen increased their target price on Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Needham & Company LLC lowered their target price on Globant from $265.00 to $220.00 and set a “buy” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $222.06.

Globant Trading Up 4.0 %

The stock has a market cap of $6.80 billion, a P/E ratio of 42.39, a PEG ratio of 2.38 and a beta of 1.39. The firm has a 50-day simple moving average of $214.07 and a two-hundred day simple moving average of $210.96.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The company had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. Sell-side analysts predict that Globant S.A. will post 5.73 earnings per share for the current year.

Institutional Investors Weigh In On Globant

A number of hedge funds have recently added to or reduced their stakes in GLOB. Centricity Wealth Management LLC bought a new stake in Globant during the fourth quarter worth $38,000. Kestra Investment Management LLC purchased a new position in shares of Globant during the 4th quarter valued at $38,000. Wilmington Savings Fund Society FSB bought a new position in Globant in the 3rd quarter worth about $40,000. Van Berkom & Associates Inc. bought a new position in shares of Globant during the 4th quarter valued at about $45,000. Finally, Signaturefd LLC increased 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 last quarter. 91.60% of the stock is currently owned by institutional investors.

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.