Globant (NYSE:GLOB) Stock Rating Upgraded by Redburn Atlantic

Redburn Atlantic upgraded shares of Globant (NYSE:GLOB) from a sell rating to a neutral rating in a report published on Tuesday, Marketbeat reports. Redburn Atlantic currently has $150.00 price target on the information technology services provider’s stock, up from their prior price target of $140.00.

A number of other research firms have also recently weighed in on GLOB. Scotiabank cut their price objective on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a report on Monday. JPMorgan Chase & Co. cut their price target on Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Susquehanna initiated coverage on Globant in a report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price target for the company. Jefferies Financial Group raised their price objective on Globant from $240.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, Piper Sandler reduced their target price on Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $222.89.

Globant Stock Up 1.5 %

Shares of GLOB stock opened at $156.22 on Tuesday. Globant has a 52-week low of $151.38 and a 52-week high of $238.32. The stock has a market cap of $6.73 billion, a PE ratio of 41.99, a price-to-earnings-growth ratio of 2.38 and a beta of 1.39. The business has a 50-day simple moving average of $212.78 and a 200-day simple moving average of $210.75.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39). The company had revenue of $642.48 million during the quarter, compared to analysts’ expectations of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. Sell-side analysts anticipate that Globant will post 5.73 earnings per share for the current fiscal year.

Institutional Trading of Globant

Several large investors have recently bought and sold shares of GLOB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Globant by 163.4% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 122,500 shares of the information technology services provider’s stock worth $26,266,000 after purchasing an additional 76,000 shares during the last quarter. Vident Advisory LLC purchased a new position in Globant during the fourth quarter worth approximately $235,000. Teza Capital Management LLC acquired a new position in Globant during the fourth quarter worth $8,650,000. Royal Bank of Canada grew its holdings in Globant by 15.4% in the 4th quarter. Royal Bank of Canada now owns 254,107 shares of the information technology services provider’s stock valued at $54,486,000 after buying an additional 33,921 shares in the last quarter. Finally, Raiffeisen Bank International AG acquired a new stake in shares of Globant in the 4th quarter worth $171,000. Hedge funds and other 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.