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

Globant (NYSE:GLOB) had its price objective reduced by UBS Group from $217.00 to $190.00 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the information technology services provider’s stock.

Several other research firms have also recently issued reports on GLOB. Redburn Atlantic upgraded shares of Globant from a “sell” rating to a “neutral” rating and increased their target price for the stock from $140.00 to $150.00 in a research note on Tuesday. Jefferies Financial Group increased 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. Needham & Company LLC reduced their target price on Globant from $265.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, February 21st. TD Cowen upped their target price on Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Piper Sandler dropped their price target on Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $221.39.

Globant Stock Performance

Shares of NYSE GLOB opened at $153.01 on Wednesday. Globant has a fifty-two week low of $151.38 and a fifty-two week high of $238.32. The stock has a market cap of $6.59 billion, a PE ratio of 41.13, a price-to-earnings-growth ratio of 2.38 and a beta of 1.39. The stock has a fifty day moving average of $210.10 and a 200-day moving average of $210.14.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The company had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. On average, sell-side analysts predict that Globant will post 5.73 EPS for the current year.

Institutional Investors Weigh In On Globant

A number of institutional investors have recently made changes to their positions in GLOB. Creative Planning lifted its stake in Globant by 20.5% in the third quarter. Creative Planning now owns 2,062 shares of the information technology services provider’s stock worth $409,000 after purchasing an additional 351 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Globant in the 3rd quarter valued at about $11,145,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Globant by 18.6% in 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. Principal Financial Group Inc. boosted its holdings in Globant by 121.3% during the 3rd quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider’s stock valued at $6,014,000 after acquiring an additional 16,639 shares during the period. Finally, Brown Brothers Harriman & Co. grew its position in Globant by 32.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 204,135 shares of the information technology services provider’s stock worth $40,447,000 after acquiring an additional 49,597 shares during the last quarter. 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.