StockNews.com Upgrades Globant (NYSE:GLOB) to Hold

StockNews.com upgraded shares of Globant (NYSE:GLOB - Free Report) from a sell rating to a hold rating in a research report released on Sunday morning.

Several other brokerages have also recently issued reports on GLOB. UBS Group dropped their target price 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. Susquehanna initiated coverage on shares of Globant in a research report on Tuesday, December 17th. They set a "positive" rating and a $255.00 price target for the company. 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. JPMorgan Chase & Co. lowered their price target on shares of Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Finally, Redburn Atlantic raised Globant from a "sell" rating to a "neutral" rating and raised their price objective for the company from $140.00 to $150.00 in a report on Tuesday, February 25th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $214.69.

Remove Ads

Globant Price Performance

Shares of NYSE GLOB traded down $8.00 during mid-day trading on Friday, hitting $104.61. 1,128,528 shares of the company's stock traded hands, compared to its average volume of 589,656. Globant has a 1 year low of $96.23 and a 1 year high of $238.32. The company's 50-day moving average is $152.31 and its two-hundred day moving average is $193.69. The company has a market capitalization of $4.61 billion, a P/E ratio of 28.12, a PEG ratio of 2.38 and a beta of 1.50.

Globant (NYSE:GLOB - Get Free Report) last released 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). The company had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. Equities analysts anticipate that Globant will post 5.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Globant

Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new position in Globant in the 4th quarter valued at $16,737,000. Cullen Frost Bankers Inc. boosted its position in shares of Globant by 5.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider's stock worth $11,350,000 after purchasing an additional 2,505 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Globant by 8.6% in the 4th quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock worth $551,506,000 after acquiring an additional 203,472 shares during the period. NS Partners Ltd acquired a new position in shares of Globant during the 4th quarter worth $18,933,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Globant by 18.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider's stock valued at $10,663,000 after purchasing an additional 8,427 shares in the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

About Globant

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.