Globant (NYSE:GLOB) Price Target Raised to $240.00 at Jefferies Financial Group

Globant (NYSE:GLOB) had its target price lifted by Jefferies Financial Group from $235.00 to $240.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

A number of other analysts have also commented on GLOB. Scotiabank lifted their price objective on Globant from $200.00 to $210.00 and gave the stock a sector perform rating in a research report on Wednesday, August 21st. Citigroup increased their price objective on shares of Globant from $215.00 to $220.00 and gave the company a buy rating in a report on Friday, July 12th. Mizuho lowered their target price on shares of Globant from $279.00 to $252.00 and set a buy rating for the company in a report on Wednesday, May 22nd. JPMorgan Chase & Co. upped their target price on shares of Globant from $226.00 to $237.00 and gave the company an overweight rating in a research report on Friday. Finally, Needham & Company LLC raised their price target on Globant from $200.00 to $245.00 and gave the stock a buy rating in a research report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $222.90.

Globant Stock Up 1.1 %

Globant stock opened at $197.07 on Monday. The stock has a 50-day simple moving average of $192.72 and a 200 day simple moving average of $188.41. The stock has a market capitalization of $8.49 billion, a price-to-earnings ratio of 51.72, a P/E/G ratio of 2.42 and a beta of 1.40. Globant has a 12-month low of $151.68 and a 12-month high of $251.50.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The business had revenue of $587.46 million for the quarter, compared to analysts’ expectations of $586.72 million. During the same period in the prior year, the firm earned $1.04 earnings per share. Globant’s revenue was up 18.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Globant will post 5.01 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLOB. 17 Capital Partners LLC lifted its holdings in shares of Globant by 1.6% during the 2nd quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider’s stock worth $616,000 after acquiring an additional 55 shares during the period. Janney Capital Management LLC lifted its stake in Globant by 3.1% during the fourth quarter. Janney Capital Management LLC now owns 2,538 shares of the information technology services provider’s stock worth $604,000 after purchasing an additional 76 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Globant by 3.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,140 shares of the information technology services provider’s stock valued at $432,000 after purchasing an additional 81 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Globant by 1.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 9,205 shares of the information technology services provider’s stock valued at $2,191,000 after purchasing an additional 89 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Globant by 5.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,800 shares of the information technology services provider’s stock worth $428,000 after buying an additional 100 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

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.