Globant (NYSE:GLOB - Free Report) had its target price boosted by Needham & Company LLC from $245.00 to $265.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the information technology services provider's stock.
A number of other analysts have also weighed in on the stock. KeyCorp raised their target price on shares of Globant from $220.00 to $235.00 and gave the company an "overweight" rating in a research report on Friday, August 16th. Jefferies Financial Group boosted their price objective on Globant from $235.00 to $240.00 and gave the stock a "buy" rating in a research report on Monday, September 9th. StockNews.com upgraded Globant from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. TD Cowen boosted their price target on Globant from $230.00 to $240.00 and gave the stock a "buy" rating in a report on Friday. Finally, Canaccord Genuity Group raised their price objective on shares of Globant from $175.00 to $205.00 and gave the company a "hold" rating in a report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $228.50.
Read Our Latest Analysis on Globant
Globant Trading Down 11.1 %
GLOB stock traded down $25.50 during mid-day trading on Friday, hitting $203.29. The stock had a trading volume of 1,348,800 shares, compared to its average volume of 483,667. The firm has a fifty day simple moving average of $208.98 and a 200 day simple moving average of $191.01. Globant has a 52 week low of $151.68 and a 52 week high of $251.50. The firm has a market capitalization of $8.76 billion, a P/E ratio of 53.04, a P/E/G ratio of 2.91 and a beta of 1.39.
Globant (NYSE:GLOB - Get Free Report) last issued its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The firm had revenue of $587.46 million for the quarter, compared to the consensus estimate of $586.72 million. During the same quarter last year, the business posted $1.04 EPS. The company's revenue was up 18.1% compared to the same quarter last year. As a group, equities analysts expect that Globant will post 5.06 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Globant
A number of large investors have recently made changes to their positions in the stock. BOKF NA raised its stake in Globant by 15,800.0% in the first quarter. BOKF NA now owns 159 shares of the information technology services provider's stock valued at $32,000 after purchasing an additional 158 shares in the last quarter. Quarry LP raised its position in shares of Globant by 529.6% during the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider's stock valued at $30,000 after buying an additional 143 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Globant during the 2nd quarter valued at $31,000. ORG Partners LLC increased its stake in Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider's stock valued at $38,000 after acquiring an additional 76 shares during the last quarter. Finally, American National Bank & Trust raised its position in Globant by 430.2% during the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider's stock valued at $45,000 after purchasing an additional 185 shares in the last quarter. 91.60% of the stock is owned by institutional investors.
About Globant
(
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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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