Globant (NYSE:GLOB) Downgraded to Sell Rating by StockNews.com

StockNews.com cut shares of Globant (NYSE:GLOB - Free Report) from a hold rating to a sell rating in a report issued on Monday morning.

Several other equities analysts have also weighed in on the stock. Piper Sandler reduced their price target on shares of Globant from $237.00 to $230.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Susquehanna dropped their target price on Globant from $255.00 to $225.00 and set a "positive" rating on the stock in a research report on Tuesday, April 8th. Jefferies Financial Group boosted their price objective on shares of Globant from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Needham & Company LLC reissued a "buy" rating and issued a $220.00 price target on shares of Globant in a report on Wednesday, March 12th. Finally, UBS Group decreased their price target on shares of Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $209.94.

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Globant Price Performance

Shares of GLOB stock traded up $0.17 on Monday, hitting $106.76. The stock had a trading volume of 193,755 shares, compared to its average volume of 593,774. The business has a 50 day moving average of $143.65 and a 200 day moving average of $191.26. Globant has a 12-month low of $96.23 and a 12-month high of $238.32. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 28.70, a price-to-earnings-growth ratio of 2.38 and a beta of 1.50.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings data 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 net margin of 6.86% and a return on equity of 11.83%. The firm had revenue of $642.48 million during the quarter, compared to analysts' expectations of $644.42 million. As a group, research analysts expect that Globant will post 5.73 earnings per share for the current fiscal year.

Institutional Trading of Globant

Several large investors have recently modified their holdings of the business. Centricity Wealth Management LLC purchased a new stake in Globant in the fourth quarter worth about $38,000. Kestra Investment Management LLC purchased a new position in Globant during the 4th quarter valued at about $38,000. Wilmington Savings Fund Society FSB bought a new stake in Globant during the third quarter worth about $40,000. Van Berkom & Associates Inc. purchased a new stake in Globant in the fourth quarter worth about $45,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Globant by 186.7% during the first quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider's stock valued at $45,000 after purchasing an additional 252 shares during the last quarter. 91.60% of the stock is 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.