Globant's (GLOB) Hold Rating Reiterated at Canaccord Genuity Group

Globant (NYSE:GLOB - Get Free Report)'s stock had its "hold" rating reaffirmed by research analysts at Canaccord Genuity Group in a report released on Monday,Benzinga reports. They currently have a $205.00 price objective on the information technology services provider's stock. Canaccord Genuity Group's price target would indicate a potential upside of 0.45% from the stock's previous close.

Several other equities research analysts also recently weighed in on the company. Scotiabank upped their price target on Globant from $200.00 to $210.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. raised their target price on shares of Globant from $237.00 to $248.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a report on Thursday, August 22nd. They set a "hold" rating and a $210.00 price target for the company. StockNews.com lowered shares of Globant from a "hold" rating to a "sell" rating in a report on Saturday. Finally, KeyCorp boosted their target price on shares of Globant from $220.00 to $235.00 and gave the stock an "overweight" rating in a research note on Friday, August 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $228.50.

Globant Stock Up 0.4 %

NYSE:GLOB traded up $0.80 on Monday, reaching $204.09. 902,296 shares of the company's stock were exchanged, compared to its average volume of 485,546. The business has a fifty day moving average of $208.98 and a 200-day moving average of $191.19. Globant has a 52-week low of $151.68 and a 52-week high of $251.50. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 53.08, a price-to-earnings-growth ratio of 2.49 and a beta of 1.39.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.50 by $0.01. The business had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. Globant had a net margin of 7.20% and a return on equity of 11.87%. The company's quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.04 earnings per share. As a group, equities analysts anticipate that Globant will post 5.06 earnings per share for the current year.

Institutional Investors Weigh In On Globant

A number of large investors have recently added to or reduced their stakes in the business. BOKF NA raised its position in shares of Globant by 15,800.0% during the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider's stock worth $32,000 after purchasing an additional 158 shares during the last quarter. Quarry LP increased its position in Globant by 529.6% during the second quarter. Quarry LP now owns 170 shares of the information technology services provider's stock worth $30,000 after buying an additional 143 shares in the last quarter. Ridgewood Investments LLC acquired a new position in shares of Globant in the second quarter worth $31,000. ORG Partners LLC lifted its position in shares of Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider's stock valued at $38,000 after acquiring an additional 76 shares in the last quarter. Finally, American National Bank & Trust boosted its stake in shares of Globant by 430.2% during the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider's stock valued at $45,000 after acquiring an additional 185 shares during the last quarter. 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.