Globant (NYSE:GLOB) Stock Rating Lowered by StockNews.com

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

Other research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a research note on Thursday, August 22nd. They issued a “hold” rating and a $210.00 target price for the company. Scotiabank lifted their price target on Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a report on Wednesday, August 21st. Needham & Company LLC increased their price objective on shares of Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Citigroup upped their target price on shares of Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Jefferies Financial Group raised their price target on shares of Globant from $235.00 to $240.00 and gave the company a “buy” rating in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $226.21.

Globant Trading Up 0.1 %

Shares of NYSE GLOB opened at $210.12 on Thursday. Globant has a one year low of $151.68 and a one year high of $251.50. The business has a fifty day simple moving average of $203.94 and a 200 day simple moving average of $188.01. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 54.86, a PEG ratio of 2.62 and a beta of 1.39.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The business had revenue of $587.46 million for the quarter, compared to analyst estimates of $586.72 million. During the same period in the previous year, the business earned $1.04 EPS. The firm’s revenue was up 18.1% on a year-over-year basis. On average, research analysts anticipate that Globant will post 5.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Globant

Large investors have recently added to or reduced their stakes in the business. Quarry LP boosted its stake in shares of Globant by 529.6% in the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after buying an additional 143 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Globant during the 2nd quarter valued at $31,000. BOKF NA raised 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 worth $32,000 after purchasing an additional 158 shares during the period. ORG Partners LLC boosted its holdings in shares of Globant by 65.5% in the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after buying an additional 76 shares during the last quarter. Finally, American National Bank & Trust grew its position in Globant by 430.2% during the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock valued at $45,000 after buying an additional 185 shares during the period. 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.