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

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

Other equities analysts have also recently issued research reports about the company. KeyCorp upped their price target on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft began coverage on Globant in a research note on Thursday, August 22nd. They set a “hold” rating and a $210.00 target price for the company. TD Cowen increased their target price on Globant from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Scotiabank increased their target price on Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 21st. Finally, Needham & Company LLC increased their target price on Globant from $200.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $224.00.

Globant Stock Down 0.7 %

Shares of Globant stock traded down $1.59 on Wednesday, hitting $217.28. The company’s stock had a trading volume of 228,467 shares, compared to its average volume of 484,841. The firm has a fifty day moving average price of $201.99 and a 200-day moving average price of $187.00. Globant has a 52-week low of $151.68 and a 52-week high of $251.50. The company has a market capitalization of $9.36 billion, a P/E ratio of 57.03, a price-to-earnings-growth ratio of 2.61 and a beta of 1.39.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The company had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. During the same quarter in the prior year, the company posted $1.04 EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. As a group, analysts expect that Globant will post 5.02 earnings per share for the current year.

Hedge Funds Weigh In On Globant

A number of institutional investors have recently bought and sold shares of GLOB. Quarry LP lifted its holdings 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 during the last quarter. Ridgewood Investments LLC acquired a new stake in Globant in the 2nd quarter worth approximately $31,000. BOKF NA increased its position in Globant by 15,800.0% in the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after buying an additional 158 shares during the period. ORG Partners LLC increased its position in Globant by 65.5% in 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 period. Finally, American National Bank & Trust increased its position in Globant by 430.2% in the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock worth $45,000 after buying an additional 185 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

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.