Globant S.A. (NYSE:GLOB - Get Free Report)'s stock price hit a new 52-week low on Friday . The stock traded as low as $120.17 and last traded at $120.79, with a volume of 175811 shares trading hands. The stock had previously closed at $126.40.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Globant from $248.00 to $242.00 and set an "overweight" rating for the company in a report on Friday, February 21st. StockNews.com downgraded Globant from a "hold" rating to a "sell" rating in a research note on Saturday. Susquehanna started coverage on Globant in a research note on Tuesday, December 17th. They issued a "positive" rating and a $255.00 price target on the stock. Redburn Atlantic raised Globant from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. Finally, Jefferies Financial Group raised their target price on Globant from $240.00 to $255.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, Globant presently has an average rating of "Moderate Buy" and a consensus target price of $219.71.
Check Out Our Latest Stock Analysis on Globant
Globant Price Performance
The firm has a 50-day simple moving average of $174.61 and a two-hundred day simple moving average of $200.39. The company has a market cap of $5.18 billion, a PE ratio of 31.64, a P/E/G ratio of 2.38 and a beta of 1.47.
Globant (NYSE:GLOB - Get Free Report) last announced 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 firm had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Equities research analysts forecast that Globant S.A. will post 5.73 EPS for the current year.
Institutional Investors Weigh In On Globant
Several hedge funds have recently made changes to their positions in the business. GQG Partners LLC purchased a new position in Globant during the fourth quarter worth about $84,906,000. Canada Pension Plan Investment Board purchased a new position in shares of Globant during the 4th quarter worth about $60,913,000. JPMorgan Chase & Co. lifted its holdings in shares of Globant by 8.6% during 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. Capital International Investors boosted its position in shares of Globant by 13.1% in the fourth quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider's stock worth $364,723,000 after acquiring an additional 197,064 shares during the last quarter. Finally, abrdn plc raised its stake in Globant by 36.7% during the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider's stock worth $101,564,000 after purchasing an additional 126,333 shares during the period. Institutional investors and hedge funds own 91.60% of the company's stock.
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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