Globant (NYSE:GLOB) Hits New 52-Week Low – What’s Next?

Shares of Globant S.A. (NYSE:GLOB) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $52.88 and last traded at $53.5650, with a volume of 154965 shares traded. The stock had previously closed at $55.47.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Globant from $61.00 to $68.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. Citigroup raised Globant to a “hold” rating in a research report on Thursday, October 23rd. UBS Group reiterated a “neutral” rating and set a $75.00 price objective on shares of Globant in a report on Monday, January 19th. Weiss Ratings reissued a “sell (d+)” rating on shares of Globant in a research report on Monday, December 29th. Finally, William Blair reaffirmed an “outperform” rating on shares of Globant in a research report on Wednesday, December 31st. Six research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $97.75.

Globant Stock Performance

The stock has a market capitalization of $2.19 billion, a P/E ratio of 22.61, a P/E/G ratio of 6.52 and a beta of 1.19. The stock has a 50 day simple moving average of $66.49 and a two-hundred day simple moving average of $65.06. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.16.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, November 13th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.02). The company had revenue of $617.14 million for the quarter, compared to the consensus estimate of $615.32 million. Globant had a return on equity of 10.39% and a net margin of 4.01%.The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 EPS. On average, equities analysts forecast that Globant S.A. will post 5.73 EPS for the current fiscal year.

Institutional Trading of Globant

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP grew its position in shares of Globant by 214.1% in the 2nd quarter. Allworth Financial LP now owns 289 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 197 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Globant by 352.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 452 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 352 shares during the period. Signaturefd LLC lifted its stake in Globant by 65.1% in the 4th quarter. Signaturefd LLC now owns 482 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 190 shares during the last quarter. CWM LLC grew its holdings in Globant by 30.1% during the second quarter. CWM LLC now owns 636 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 147 shares during the period. Finally, Larson Financial Group LLC increased its position in Globant by 561.2% during the fourth quarter. Larson Financial Group LLC now owns 681 shares of the information technology services provider’s stock worth $45,000 after buying an additional 578 shares during the last quarter. 91.60% of the stock is owned by institutional investors.

About Globant

Globant is a digitally native technology services company founded in 2003 in Buenos Aires, Argentina. Specializing in software development and digital transformation, Globant partners with enterprises to conceive, design and engineer software products and platforms. The company leverages agile methodologies and proprietary delivery frameworks to accelerate projects in areas such as cloud migration, user experience design, data analytics, artificial intelligence and blockchain-enabled solutions.

Globant’s service offerings span strategy consulting, custom software engineering, digital experience design and managed services.