Globant (NYSE:GLOB) Stock Rating Upgraded by StockNews.com

Globant (NYSE:GLOB) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

Several other equities research analysts also recently issued reports on GLOB. UBS Group reissued a “neutral” rating and issued a $235.00 price objective (up from $225.00) on shares of Globant in a research note on Tuesday, August 20th. Citigroup raised their price objective on shares of Globant from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $240.00 price target (up previously from $238.00) on shares of Globant in a research report on Friday, August 16th. Jefferies Financial Group lifted their target price on shares of Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Finally, KeyCorp lifted their price objective on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $224.00.

Globant Stock Performance

GLOB opened at $218.93 on Wednesday. The company has a market capitalization of $9.43 billion, a PE ratio of 57.49, a P/E/G ratio of 2.61 and a beta of 1.39. The stock’s fifty day moving average is $201.99 and its 200-day moving average is $187.00. Globant has a one year low of $151.68 and a one year high of $251.50.

Globant (NYSE:GLOB) last released its 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. The business had revenue of $587.46 million during the quarter, compared to analyst estimates of $586.72 million. Globant had a net margin of 7.39% and a return on equity of 11.68%. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.04 earnings per share. On average, equities research analysts forecast that Globant will post 5.02 EPS for the current fiscal year.

Institutional Trading of Globant

A number of hedge funds have recently bought and sold shares of the company. Parcion Private Wealth LLC bought a new stake in Globant in the 3rd quarter worth $214,000. International Assets Investment Management LLC purchased a new stake in shares of Globant during the third quarter worth about $36,510,000. Signaturefd LLC grew its stake in shares of Globant by 46.0% in the third 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 last quarter. Raymond James & Associates increased its holdings in Globant by 27.4% during the 3rd quarter. Raymond James & Associates now owns 79,234 shares of the information technology services provider’s stock valued at $15,699,000 after purchasing an additional 17,035 shares during the period. Finally, nVerses Capital LLC bought a new position in Globant during the 3rd quarter valued at approximately $575,000. Institutional investors 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.