Globant (NYSE:GLOB) Trading Down 2.9%

Globant S.A. (NYSE:GLOB)’s stock price traded down 2.9% during mid-day trading on Tuesday . The company traded as low as $191.38 and last traded at $191.38. 55,119 shares were traded during mid-day trading, a decline of 89% from the average session volume of 486,975 shares. The stock had previously closed at $197.08.

Wall Street Analyst Weigh In

Several research analysts recently commented on GLOB shares. TD Cowen lifted their target price on shares of Globant from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft began coverage on Globant in a research report on Thursday, August 22nd. They set a “hold” rating and a $210.00 price objective for the company. UBS Group reaffirmed a “neutral” rating and issued a $235.00 target price (up previously from $225.00) on shares of Globant in a report on Tuesday, August 20th. Mizuho dropped their price target on Globant from $279.00 to $252.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Finally, Scotiabank increased their price objective on Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $222.90.

Globant Trading Up 1.4 %

The firm has a market capitalization of $8.35 billion, a price-to-earnings ratio of 50.84, a PEG ratio of 2.49 and a beta of 1.40. The stock has a fifty day moving average price of $195.44 and a 200-day moving average price of $187.33.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The firm had revenue of $587.46 million during the quarter, compared to analyst estimates of $586.72 million. During the same period in the prior year, the company posted $1.04 earnings per share. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, equities analysts expect that Globant S.A. will post 5.01 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Accent Capital Management LLC acquired a new position in Globant during the 4th quarter worth about $29,000. Quarry LP increased its holdings in shares of Globant by 529.6% in the second 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 acquired a new stake in shares of Globant in the second quarter valued at approximately $31,000. BOKF NA lifted its holdings in 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 bought a new position in Globant in the 1st quarter valued at $54,000. Institutional investors own 91.60% of the company’s stock.

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.