Globant S.A. (NYSE:GLOB - Get Free Report) reached a new 52-week low during trading on Thursday . The stock traded as low as $140.70 and last traded at $140.43, with a volume of 276244 shares trading hands. The stock had previously closed at $146.45.
Analyst Ratings Changes
A number of research firms have recently issued reports on GLOB. TD Cowen upped their target price on shares of Globant from $230.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Piper Sandler dropped their price objective on shares of Globant from $237.00 to $230.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Redburn Atlantic raised shares of Globant from a "sell" rating to a "neutral" rating and raised their target price for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. 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 report on Monday, February 24th. Finally, JPMorgan Chase & Co. cut their price target on Globant from $248.00 to $242.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Globant has an average rating of "Moderate Buy" and an average target price of $221.39.
View Our Latest Stock Report on GLOB
Globant Stock Down 5.8 %
The business's 50-day simple moving average is $199.61 and its two-hundred day simple moving average is $207.69. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 35.54, a PEG ratio of 2.38 and a beta of 1.47.
Globant (NYSE:GLOB - Get Free Report) last posted its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share 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 company had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Sell-side analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current year.
Hedge Funds Weigh In On Globant
A number of hedge funds and other institutional investors have recently bought and sold shares of GLOB. Equitable Trust Co. lifted its position in shares of Globant by 1.1% during the third quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider's stock worth $902,000 after purchasing an additional 50 shares in the last quarter. M&T Bank Corp lifted its holdings in Globant by 3.8% during the 3rd quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider's stock worth $326,000 after buying an additional 60 shares in the last quarter. Franklin Resources Inc. boosted its position in Globant by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider's stock valued at $2,704,000 after buying an additional 71 shares during the period. Congress Wealth Management LLC DE boosted its position in Globant by 2.9% in the 4th quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider's stock valued at $575,000 after buying an additional 76 shares during the period. Finally, Treasurer of the State of North Carolina increased its position in shares of Globant by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 18,490 shares of the information technology services provider's stock worth $3,965,000 after acquiring an additional 110 shares during the period. 91.60% of the stock is currently owned by hedge funds and other institutional investors.
About Globant
(
Get Free Report)
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.
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