Deutsche Bank Aktiengesellschaft Begins Coverage on Globant (NYSE:GLOB)

Stock analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Globant (NYSE:GLOB - Get Free Report) in a report issued on Thursday. The firm set a "hold" rating on the information technology services provider's stock.

GLOB has been the topic of a number of other reports. Mizuho set a $153.00 price objective on shares of Globant and gave the company an "outperform" rating in a research note on Monday, May 19th. Susquehanna cut their price objective on shares of Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Needham & Company LLC dropped their price target 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. Wall Street Zen upgraded shares of Globant from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. Finally, The Goldman Sachs Group cut shares of Globant from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $225.00 to $120.00 in a research report on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $174.94.

Globant Trading Up 0.5%

Shares of GLOB traded up $0.43 during mid-day trading on Thursday, hitting $85.04. The company had a trading volume of 75,537 shares, compared to its average volume of 742,289. The business's 50-day simple moving average is $99.46 and its 200-day simple moving average is $139.64. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.13. Globant has a 1-year low of $82.39 and a 1-year high of $238.32. The stock has a market cap of $3.74 billion, a PE ratio of 25.16, a P/E/G ratio of 2.54 and a beta of 1.20.

Globant (NYSE:GLOB - Get Free Report) last released 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 11.08% and a net margin of 6.16%. The company had revenue of $611.09 million during the quarter, compared to analyst estimates of $622.18 million. During the same period in the prior year, the business posted $1.53 earnings per share. Globant's revenue was up 7.0% on a year-over-year basis. Sell-side analysts forecast that Globant will post 5.73 earnings per share for the current year.

Institutional Investors Weigh In On Globant

Several large investors have recently made changes to their positions in GLOB. Amundi grew its stake in shares of Globant by 209.2% in the 4th quarter. Amundi now owns 2,718 shares of the information technology services provider's stock valued at $580,000 after buying an additional 1,839 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Globant by 13.3% in the 4th quarter. HighTower Advisors LLC now owns 6,483 shares of the information technology services provider's stock valued at $1,390,000 after buying an additional 759 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Globant by 7.4% in the 4th quarter. Natixis Advisors LLC now owns 14,469 shares of the information technology services provider's stock valued at $3,102,000 after buying an additional 1,001 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Globant by 8.1% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 9,337 shares of the information technology services provider's stock valued at $2,002,000 after buying an additional 701 shares in the last quarter. Finally, Xponance Inc. lifted its holdings in Globant by 6.9% in the 4th quarter. Xponance Inc. now owns 4,720 shares of the information technology services provider's stock worth $1,012,000 after purchasing an additional 303 shares during the last quarter. 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.

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