Globant (NYSE:GLOB) Given New $190.00 Price Target at UBS Group

Globant (NYSE:GLOB) had its price objective decreased by research analysts at UBS Group from $217.00 to $190.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the information technology services provider’s stock. UBS Group’s price target indicates a potential upside of 22.98% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. TD Cowen upped their target price on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Jefferies Financial Group lifted their price target on shares of Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. cut their target price on shares of Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and upped their price objective for the company from $140.00 to $150.00 in a report on Tuesday. Finally, StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.39.

Globant Trading Down 1.0 %

Globant stock traded down $1.51 during midday trading on Wednesday, hitting $154.50. The stock had a trading volume of 517,673 shares, compared to its average volume of 717,917. The stock has a market cap of $6.66 billion, a P/E ratio of 41.49, a P/E/G ratio of 2.38 and a beta of 1.39. The business has a fifty day moving average price of $211.36 and a 200 day moving average price of $210.54. Globant has a 12 month low of $151.38 and a 12 month high of $238.32.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 6.86% and a return on equity of 11.83%. On average, equities analysts anticipate that Globant will post 5.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Globant

Hedge funds have recently added to or reduced their stakes in the business. Centricity Wealth Management LLC acquired a new stake in shares of Globant in the fourth quarter worth approximately $38,000. Kestra Investment Management LLC acquired a new position in Globant in the fourth quarter worth about $38,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Globant in the 3rd quarter worth approximately $40,000. Van Berkom & Associates Inc. purchased a new position in shares of Globant in the fourth quarter worth approximately $45,000. Finally, Signaturefd LLC increased its stake in Globant by 46.0% in the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock valued at $58,000 after buying an additional 92 shares during the period. 91.60% of the stock is currently owned by hedge funds and other 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.