Globant (NYSE:GLOB) Upgraded at Redburn Atlantic

Redburn Atlantic upgraded shares of Globant (NYSE:GLOB) from a sell rating to a neutral rating in a research note released on Tuesday, MarketBeat reports. They currently have $150.00 price target on the information technology services provider’s stock, up from their previous price target of $140.00.

Several other equities research analysts have also commented on the stock. TD Cowen upped their price target on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 15th. Susquehanna started coverage on Globant in a research note on Tuesday, December 17th. They issued a “positive” rating and a $255.00 target price on the stock. Canaccord Genuity Group reduced their price target on Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research report on Monday. Citigroup upped their price objective on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, UBS Group cut their target price on shares of Globant from $222.00 to $217.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Globant presently has a consensus rating of “Moderate Buy” and an average target price of $221.39.

Globant Stock Performance

Shares of GLOB stock opened at $148.14 on Tuesday. Globant has a fifty-two week low of $147.62 and a fifty-two week high of $238.32. The firm has a market capitalization of $6.38 billion, a PE ratio of 39.82, a P/E/G ratio of 2.38 and a beta of 1.39. The stock’s 50-day simple moving average is $208.60 and its 200-day simple moving average is $209.71.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.39). Globant had a return on equity of 11.83% and a net margin of 6.86%. The business had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Sell-side analysts forecast that Globant will post 5.73 earnings per share for the current year.

Institutional Trading of Globant

A number of institutional investors have recently made changes to their positions in the company. Centricity Wealth Management LLC acquired a new position in Globant in the 4th quarter valued at $38,000. Kestra Investment Management LLC purchased a new position in shares of Globant in the fourth quarter worth about $38,000. Wilmington Savings Fund Society FSB acquired a new position in Globant during the third quarter worth about $40,000. Van Berkom & Associates Inc. acquired a new position in Globant during the fourth quarter worth about $45,000. Finally, Signaturefd LLC grew its stake in Globant by 46.0% during the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock valued at $58,000 after acquiring an additional 92 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

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.