Globant (NYSE:GLOB) Upgraded to Hold at StockNews.com

Globant (NYSE:GLOB) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

A number of other equities research analysts have also recently weighed in on GLOB. Jefferies Financial Group lifted their price target on Globant from $240.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Canaccord Genuity Group lowered their target price on Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a research report on Monday, February 24th. Piper Sandler reduced their price target on Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. UBS Group decreased their price target on Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $220.00 price objective on shares of Globant in a research note on Wednesday, March 12th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $216.56.

Globant Price Performance

Shares of GLOB opened at $102.39 on Friday. Globant has a 12 month low of $96.23 and a 12 month high of $238.32. The stock has a fifty day moving average price of $162.80 and a 200 day moving average price of $196.80. The company has a market cap of $4.51 billion, a P/E ratio of 27.52, a PEG ratio of 2.38 and a beta of 1.50.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $644.42 million. As a group, research analysts anticipate that Globant will post 5.73 earnings per share for the current year.

Institutional Trading of Globant

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GQG Partners LLC bought a new position in shares of Globant in the fourth quarter valued at $84,906,000. Canada Pension Plan Investment Board acquired a new stake in shares of Globant during the fourth quarter worth $60,913,000. JPMorgan Chase & Co. raised its position in shares of Globant by 8.6% during the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider’s stock worth $551,506,000 after purchasing an additional 203,472 shares during the period. Capital International Investors lifted its holdings in shares of Globant by 13.1% during the fourth quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider’s stock valued at $364,723,000 after purchasing an additional 197,064 shares during the last quarter. Finally, abrdn plc boosted its position in shares of Globant by 36.7% in the 4th quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock valued at $101,564,000 after purchasing an additional 126,333 shares during the period. 91.60% of the stock is 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.