Susquehanna Issues Pessimistic Forecast for Globant (NYSE:GLOB) Stock Price

Globant (NYSE:GLOB) had its target price decreased by equities researchers at Susquehanna from $255.00 to $225.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “positive” rating on the information technology services provider’s stock. Susquehanna’s price target points to a potential upside of 100.65% from the stock’s current price.

Several other research firms have also recently weighed in on GLOB. Canaccord Genuity Group dropped their price objective on shares of Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research report on Monday, February 24th. StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a research note on Sunday. Piper Sandler reduced their price objective on shares of Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 target price on shares of Globant in a research note on Wednesday, March 12th. Finally, Scotiabank lowered their price target on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a report on Monday, February 24th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Globant has an average rating of “Moderate Buy” and a consensus target price of $214.69.

Globant Price Performance

NYSE GLOB opened at $112.14 on Tuesday. The stock’s 50-day moving average is $154.46 and its two-hundred day moving average is $194.33. The firm has a market cap of $4.94 billion, a P/E ratio of 30.14, a price-to-earnings-growth ratio of 2.38 and a beta of 1.50. Globant has a fifty-two week low of $96.23 and a fifty-two week high of $238.32.

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

Institutional Trading of Globant

Large investors have recently made changes to their positions in the company. NBC Securities Inc. lifted its holdings in shares of Globant by 105,550.0% during the first quarter. NBC Securities Inc. now owns 4,226 shares of the information technology services provider’s stock worth $497,000 after purchasing an additional 4,222 shares during the period. GAMMA Investing LLC increased its stake in Globant by 8,932.9% in the first quarter. GAMMA Investing LLC now owns 87,348 shares of the information technology services provider’s stock valued at $10,283,000 after purchasing an additional 86,381 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Globant during the fourth quarter worth about $274,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Globant during the fourth quarter worth about $18,828,000. Finally, Jefferies Financial Group Inc. increased its position in shares of Globant by 5.6% during the fourth quarter. Jefferies Financial Group Inc. now owns 16,400 shares of the information technology services provider’s stock worth $3,516,000 after acquiring an additional 870 shares in the last quarter. Institutional investors and hedge funds 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.