Globant (NYSE:GLOB - Get Free Report) had its price objective cut by research analysts at Piper Sandler from $240.00 to $237.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the information technology services provider's stock. Piper Sandler's target price would indicate a potential upside of 16.66% from the stock's current price.
GLOB has been the topic of a number of other research reports. Needham & Company LLC lifted their target price on shares of Globant from $200.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, August 16th. TD Cowen lifted their target price on shares of Globant from $220.00 to $230.00 and gave the company a "buy" rating in a report on Friday, August 16th. UBS Group reaffirmed a "neutral" rating and issued a $235.00 price target (up previously from $225.00) on shares of Globant in a research report on Tuesday, August 20th. KeyCorp raised their price target on Globant from $220.00 to $235.00 and gave the stock an "overweight" rating in a research note on Friday, August 16th. Finally, Scotiabank boosted their price objective on Globant from $200.00 to $210.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $228.50.
View Our Latest Stock Analysis on Globant
Globant Trading Down 11.2 %
Shares of GLOB traded down $25.63 on Friday, reaching $203.16. 1,348,818 shares of the company's stock traded hands, compared to its average volume of 483,667. The stock's 50 day simple moving average is $208.82 and its two-hundred day simple moving average is $190.87. Globant has a 52-week low of $151.68 and a 52-week high of $251.50. The stock has a market cap of $8.75 billion, a PE ratio of 52.66, a PEG ratio of 2.91 and a beta of 1.39.
Globant (NYSE:GLOB - Get Free Report) last released its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.01. The company had revenue of $587.46 million for the quarter, compared to analysts' expectations of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. The business's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.04 EPS. Analysts forecast that Globant will post 5.06 earnings per share for the current year.
Hedge Funds Weigh In On Globant
Institutional investors and hedge funds have recently modified their holdings of the company. Equitable Trust Co. increased its holdings in Globant by 1.1% in the third quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider's stock valued at $902,000 after buying an additional 50 shares in the last quarter. 17 Capital Partners LLC increased its stake in Globant by 1.6% in the second quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider's stock valued at $616,000 after purchasing an additional 55 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Globant by 3.8% in the 3rd quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider's stock valued at $326,000 after purchasing an additional 60 shares during the last quarter. ORG Partners LLC increased its holdings in shares of Globant by 65.5% during the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider's stock worth $38,000 after buying an additional 76 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Globant by 46.0% during the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider's stock worth $58,000 after purchasing an additional 92 shares during the period. Institutional investors and hedge funds own 91.60% of the company's stock.
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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