Globant (NYSE:GLOB) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant (NYSE:GLOB - Free Report) in a research note released on Thursday morning, Marketbeat Ratings reports. The brokerage issued a hold rating and a $87.00 price objective on the information technology services provider's stock.

A number of other research analysts have also recently weighed in on GLOB. Scotiabank cut their price objective on shares of Globant from $170.00 to $140.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Canaccord Genuity Group reiterated a "hold" rating and set a $97.00 price objective (down previously from $165.00) on shares of Globant in a research report on Thursday, June 26th. Piper Sandler cut shares of Globant from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $154.00 to $116.00 in a research report on Friday, May 16th. Needham & Company LLC cut their price objective on shares of Globant from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Finally, Mizuho set a $153.00 price objective on shares of Globant and gave the company an "outperform" rating in a research report on Monday, May 19th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $167.25.

Globant Price Performance

Shares of Globant stock traded down $0.89 on Thursday, hitting $84.28. 1,008,549 shares of the company traded hands, compared to its average volume of 747,310. The stock has a market capitalization of $3.71 billion, a P/E ratio of 24.93, a price-to-earnings-growth ratio of 2.98 and a beta of 1.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.56 and a current ratio of 1.56. Globant has a 52 week low of $82.39 and a 52 week high of $238.32. The business has a 50-day simple moving average of $97.66 and a 200 day simple moving average of $137.30.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $611.09 million for the quarter, compared to the consensus estimate of $622.18 million. Globant had a net margin of 6.16% and a return on equity of 11.08%. The company's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.53 EPS. Research analysts expect that Globant will post 5.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Globant

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Congress Wealth Management LLC DE boosted its position in shares of Globant by 2.9% during the 4th quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider's stock valued at $575,000 after acquiring an additional 76 shares during the last quarter. Signaturefd LLC boosted its position in shares of Globant by 29.7% during the 1st quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock valued at $46,000 after acquiring an additional 89 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in shares of Globant by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 18,490 shares of the information technology services provider's stock valued at $3,965,000 after acquiring an additional 110 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Globant by 23.6% during the 1st quarter. Blue Trust Inc. now owns 607 shares of the information technology services provider's stock valued at $71,000 after acquiring an additional 116 shares during the last quarter. Finally, Brooklyn Investment Group boosted its position in shares of Globant by 194.4% during the 1st quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 140 shares during the last quarter. Institutional investors and hedge funds 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.