Globant (NYSE:GLOB) Rating Lowered to “Sell” at StockNews.com

Globant (NYSE:GLOB) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other equities research analysts also recently weighed in on the company. Citigroup boosted their target price on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Canaccord Genuity Group upped their target price on shares of Globant from $175.00 to $205.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Scotiabank lifted their price target on shares of Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 21st. Jefferies Financial Group boosted their price target on shares of Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Finally, KeyCorp raised their price objective on shares of Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $228.50.

Globant Trading Down 11.1 %

GLOB opened at $203.29 on Friday. Globant has a 1-year low of $151.68 and a 1-year high of $251.50. The stock has a market capitalization of $8.76 billion, a PE ratio of 53.08, a PEG ratio of 2.49 and a beta of 1.39. The firm has a 50-day moving average price of $208.98 and a two-hundred day moving average price of $191.09.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. Globant had a net margin of 7.20% and a return on equity of 11.87%. The business had revenue of $587.46 million during the quarter, compared to analyst estimates of $586.72 million. During the same quarter last year, the business posted $1.04 earnings per share. Globant’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, research analysts predict that Globant will post 5.06 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GLOB. Equitable Trust Co. lifted its holdings in shares of Globant by 1.1% in the third quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock valued at $902,000 after purchasing an additional 50 shares in the last quarter. 17 Capital Partners LLC raised its position in Globant by 1.6% in the 2nd quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider’s stock valued at $616,000 after buying an additional 55 shares during the last quarter. M&T Bank Corp lifted its stake in Globant by 3.8% in the 3rd quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock valued at $326,000 after acquiring an additional 60 shares in the last quarter. ORG Partners LLC boosted its position in Globant by 65.5% during the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after acquiring an additional 76 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of Globant by 46.0% during the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after acquiring an additional 92 shares in the last quarter. 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.