Globant (NYSE:GLOB) Stock Rating Lowered by StockNews.com

Globant (NYSE:GLOB - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Friday.

Several other research firms have also issued reports on GLOB. JPMorgan Chase & Co. dropped their price target on Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Susquehanna reduced their price target on shares of Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a research report on Wednesday. Scotiabank decreased their price target on shares of Globant from $220.00 to $170.00 and set a "sector perform" rating for the company in a report on Monday, February 24th. Jefferies Financial Group increased their price objective on shares of Globant from $240.00 to $255.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Finally, Canaccord Genuity Group decreased their target price on Globant from $205.00 to $165.00 and set a "hold" rating for the company in a research note on Monday, February 24th. One research 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $205.88.

Globant Trading Up 5.4 %

GLOB opened at $118.33 on Friday. Globant has a twelve month low of $96.23 and a twelve month high of $238.32. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of 31.81, a PEG ratio of 2.38 and a beta of 1.50. The company has a fifty day simple moving average of $130.12 and a 200 day simple moving average of $187.62.

Globant (NYSE:GLOB - Get Free Report) last released its earnings results 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 business had revenue of $642.48 million for the quarter, compared to analysts' expectations of $644.42 million. On average, analysts forecast that Globant will post 5.73 earnings per share for the current fiscal year.

Institutional Trading of Globant

A number of hedge funds and other institutional investors have recently made changes to their positions in GLOB. Centricity Wealth Management LLC bought a new position in shares of Globant in the fourth quarter valued at approximately $38,000. Kestra Investment Management LLC bought a new position in Globant during the 4th quarter valued at $38,000. Bessemer Group Inc. acquired a new position in shares of Globant during the 1st quarter valued at $39,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Globant in the 3rd quarter worth $40,000. Finally, Van Berkom & Associates Inc. acquired a new stake in shares of Globant in the fourth quarter valued at $45,000. 91.60% of the stock is currently 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.

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