Globant (NYSE:GLOB) Upgraded by StockNews.com to “Hold” Rating

Globant (NYSE:GLOB) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

A number of other research firms have also issued reports on GLOB. Redburn Atlantic upgraded Globant from a “sell” rating to a “neutral” rating and increased their target price for the company from $140.00 to $150.00 in a report on Tuesday, February 25th. Canaccord Genuity Group reduced their price objective on Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research note on Monday, February 24th. Jefferies Financial Group raised their price objective on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Scotiabank dropped their target price on Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a report on Monday, February 24th. Finally, Needham & Company LLC restated a “buy” rating and set a $220.00 price target on shares of Globant in a report on Wednesday, March 12th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.56.

Globant Stock Down 4.7 %

Shares of NYSE GLOB opened at $100.14 on Friday. The business has a fifty day simple moving average of $164.90 and a 200-day simple moving average of $197.40. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 2.38 and a beta of 1.47. Globant has a 12 month low of $96.93 and a 12 month high of $238.32.

Globant (NYSE:GLOB) last announced 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). The firm had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. As a group, sell-side analysts expect that Globant will post 5.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Globant

Several institutional investors have recently bought and sold shares of GLOB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Globant by 18.6% during the 3rd 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 acquiring an additional 8,427 shares during the last quarter. Verition Fund Management LLC acquired a new position in Globant during the third quarter valued at approximately $1,009,000. Benjamin Edwards Inc. grew its holdings in Globant by 229.8% during the third quarter. Benjamin Edwards Inc. now owns 3,169 shares of the information technology services provider’s stock valued at $628,000 after purchasing an additional 2,208 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Globant by 27.5% in the third quarter. Janus Henderson Group PLC now owns 40,586 shares of the information technology services provider’s stock valued at $8,039,000 after purchasing an additional 8,743 shares during the period. Finally, Quantinno Capital Management LP lifted its stake in shares of Globant by 14.0% in the third quarter. Quantinno Capital Management LP now owns 1,502 shares of the information technology services provider’s stock worth $298,000 after buying an additional 185 shares during the last quarter. 91.60% of the stock is currently owned by 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.