Globant (NYSE:GLOB) Downgraded by Piper Sandler


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Globant (NYSE:GLOB) was downgraded by research analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued on Thursday, Briefing.com reports. They currently have a $222.00 price objective on the information technology services provider’s stock, up from their previous price objective of $205.00. Piper Sandler’s target price suggests a potential upside of 4.39% from the company’s current price.

Several other equities research analysts have also commented on GLOB. Jefferies Financial Group initiated coverage on shares of Globant in a research note on Friday, December 4th. They set a “hold” rating on the stock. ValuEngine cut shares of Globant from a “buy” rating to a “hold” rating in a report on Tuesday, December 1st. Zacks Investment Research raised shares of Globant from a “sell” rating to a “hold” rating in a report on Wednesday, December 23rd. BidaskClub upgraded shares of Globant from a “hold” rating to a “buy” rating in a research report on Friday, December 18th. Finally, TheStreet lowered shares of Globant from a “b” rating to a “c+” rating in a research report on Monday, November 16th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Globant presently has an average rating of “Hold” and an average price target of $166.70.

Shares of GLOB opened at $212.67 on Thursday. The firm’s 50-day moving average price is $203.09 and its 200-day moving average price is $184.17. The firm has a market capitalization of $7.89 billion, a price-to-earnings ratio of 168.79 and a beta of 1.20. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.09. Globant has a 1-year low of $70.83 and a 1-year high of $230.47.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, November 12th. The information technology services provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $207.22 million for the quarter, compared to analyst estimates of $203.76 million. Globant had a net margin of 6.40% and a return on equity of 10.92%. During the same quarter in the previous year, the firm posted $0.62 EPS. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. On average, research analysts forecast that Globant will post 1.76 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Ropes Wealth Advisors LLC purchased a new stake in Globant during the third quarter valued at $29,000. CWM LLC purchased a new stake in Globant during the third quarter valued at $33,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Globant in the third quarter valued at $44,000. IFP Advisors Inc raised its stake in shares of Globant by 1,104.0% in the third quarter. IFP Advisors Inc now owns 301 shares of the information technology services provider’s stock valued at $51,000 after acquiring an additional 276 shares during the period. Finally, Contravisory Investment Management Inc. raised its stake in shares of Globant by 1,300.0% in the fourth quarter. Contravisory Investment Management Inc. now owns 238 shares of the information technology services provider’s stock valued at $52,000 after acquiring an additional 221 shares during the period. 83.45% of the stock is currently owned by institutional investors.

About Globant

Globant SA operates as a technology services company worldwide. The company offers machine learning, pattern recognition, and natural language understanding services. It also provides process appraisal, automated, process evolution, delivery management, agile consultancy, management consulting, user experience, visual and service design, industrial design, consultancy, fast prototyping, app evolution, platform integration, and hardware integration services.

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Analyst Recommendations for Globant (NYSE:GLOB)

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