Globant (NYSE:GLOB) Upgraded to “Hold” at StockNews.com

Globant (NYSE:GLOB) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

A number of other equities analysts also recently weighed in on GLOB. The Goldman Sachs Group downgraded shares of Globant from a “buy” rating to a “neutral” rating and cut their price target for the stock from $225.00 to $120.00 in a report on Friday. Susquehanna decreased their price objective on shares of Globant from $225.00 to $160.00 and set a “positive” rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price target on shares of Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Mizuho reduced their price target on shares of Globant from $194.00 to $153.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Guggenheim cut their target price on shares of Globant from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Friday. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $179.19.

Globant Price Performance

Shares of NYSE GLOB traded up $3.89 during trading on Monday, hitting $105.36. The stock had a trading volume of 2,876,105 shares, compared to its average volume of 675,038. Globant has a 12 month low of $88.03 and a 12 month high of $238.32. The company has a market capitalization of $4.64 billion, a PE ratio of 28.32, a PEG ratio of 2.38 and a beta of 1.37. The firm has a fifty day moving average of $118.69 and a two-hundred day moving average of $176.94.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.08). Globant had a return on equity of 11.83% and a net margin of 6.86%. The firm had revenue of $611.09 million during the quarter, compared to the consensus estimate of $622.18 million. During the same quarter in the previous year, the company earned $1.53 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. On average, equities analysts expect that Globant will post 5.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Globant

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brooklyn Investment Group lifted its position in Globant by 194.4% during the first quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 140 shares during the period. Physician Wealth Advisors Inc. lifted its position in Globant by 140.9% during the first quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 155 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Globant during the fourth quarter valued at $38,000. Kestra Investment Management LLC bought a new position in shares of Globant during the fourth quarter valued at $38,000. Finally, Bessemer Group Inc. bought a new position in shares of Globant during the first quarter valued at $39,000. 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.