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

Globant (NYSE:GLOB) had its target price boosted by equities research analysts at Jefferies Financial Group from $235.00 to $240.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the information technology services provider’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 20.80% from the stock’s previous close.

Several other equities analysts have also recently weighed in on GLOB. Mizuho cut their target price on shares of Globant from $279.00 to $252.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. The Goldman Sachs Group began coverage on Globant in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 price objective for the company. UBS Group reiterated a “neutral” rating and issued a $235.00 target price (up from $225.00) on shares of Globant in a research report on Tuesday, August 20th. Redburn Atlantic started coverage on Globant in a report on Friday, May 24th. They set a “sell” rating and a $135.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Globant from $226.00 to $237.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $222.90.

Globant Stock Performance

Shares of NYSE:GLOB opened at $198.68 on Monday. The firm has a market cap of $8.56 billion, a price-to-earnings ratio of 52.15, a price-to-earnings-growth ratio of 2.42 and a beta of 1.40. The business has a 50-day simple moving average of $193.16 and a two-hundred day simple moving average of $188.21. Globant has a fifty-two week low of $151.68 and a fifty-two week 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. The firm 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 revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.04 EPS. As a group, research analysts predict that Globant will post 5.01 earnings per share for the current year.

Hedge Funds Weigh In On Globant

Several hedge funds have recently bought and sold shares of GLOB. Accent Capital Management LLC bought a new stake in shares of Globant during the fourth quarter valued at approximately $29,000. Quarry LP raised its position in Globant by 529.6% during the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 143 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Globant in the 2nd quarter worth $31,000. BOKF NA grew its position in shares of Globant by 15,800.0% during the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after buying an additional 158 shares in the last quarter. Finally, RiverPark Advisors LLC purchased a new position in shares of Globant during the first quarter valued at $54,000. 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.