Globant (NYSE:GLOB) PT Raised to $251.00

Globant (NYSE:GLOB) had its price objective increased by investment analysts at Citigroup from $240.00 to $251.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the information technology services provider’s stock. Citigroup’s price objective would indicate a potential upside of 13.74% from the company’s current price.

GLOB has been the subject of several other reports. Scotiabank lifted their target price on shares of Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 21st. KeyCorp boosted their price objective on shares of Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. JPMorgan Chase & Co. increased their target price on Globant from $226.00 to $237.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $240.00 price target (up from $238.00) on shares of Globant in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.63.

Globant Stock Up 0.9 %

Globant stock opened at $220.68 on Monday. Globant has a twelve month low of $151.68 and a twelve month high of $251.50. The company has a market capitalization of $9.51 billion, a P/E ratio of 57.92, a PEG ratio of 2.70 and a beta of 1.39. The stock’s 50 day moving average is $203.48 and its 200 day moving average is $187.53.

Globant (NYSE:GLOB) last released its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The firm had revenue of $587.46 million for the quarter, compared to analysts’ expectations of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. The company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.04 earnings per share. As a group, equities analysts expect that Globant will post 5.02 EPS for the current year.

Institutional Trading of Globant

A number of hedge funds and other institutional investors have recently bought and sold shares of GLOB. BOKF NA grew its stake 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 valued at $32,000 after acquiring an additional 158 shares during the period. Quarry LP lifted its holdings in Globant by 529.6% during 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 bought a new position in shares of Globant in the second quarter worth approximately $31,000. ORG Partners LLC increased its stake in shares of Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after purchasing an additional 76 shares in the last quarter. Finally, American National Bank & Trust raised its position in shares of Globant by 430.2% during the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock valued at $45,000 after purchasing an additional 185 shares during the period. 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.