Globant (NYSE:GLOB) Price Target Raised to $265.00

Globant (NYSE:GLOB) had its price target upped by Needham & Company LLC from $245.00 to $265.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group lifted their target price on shares of Globant from $235.00 to $240.00 and gave the company a “buy” rating in a report on Monday, September 9th. Piper Sandler dropped their target price on Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research report on Friday. KeyCorp raised their price target on Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Citigroup upped their price objective on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Scotiabank raised their target price on Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $228.50.

Globant Stock Down 11.1 %

NYSE GLOB opened at $203.29 on Friday. The business’s 50-day moving average price is $208.98 and its 200 day moving average price is $191.09. The firm has a market cap of $8.76 billion, a P/E ratio of 53.08, a P/E/G ratio of 2.49 and a beta of 1.39. Globant has a 52-week low of $151.68 and a 52-week high of $251.50.

Globant (NYSE:GLOB) last released its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. Globant had a return on equity of 11.87% and a net margin of 7.20%. The business had revenue of $587.46 million for the quarter, compared to analyst estimates of $586.72 million. During the same quarter in the previous year, the company posted $1.04 earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, analysts anticipate that Globant will post 5.06 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Equitable Trust Co. boosted its holdings in shares of Globant by 1.1% in the 3rd quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock valued at $902,000 after purchasing an additional 50 shares during the last quarter. 17 Capital Partners LLC boosted its holdings 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 acquiring an additional 55 shares during the last quarter. M&T Bank Corp grew its position in Globant by 3.8% during the third quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock valued at $326,000 after acquiring an additional 60 shares during the period. ORG Partners LLC increased its stake in Globant by 65.5% during the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after acquiring an additional 76 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Globant by 46.0% in 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. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Company Profile

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.