StockNews.com Downgrades Globant (NYSE:GLOB) to Sell

StockNews.com lowered shares of Globant (NYSE:GLOB - Free Report) from a hold rating to a sell rating in a research note issued to investors on Monday morning.

Several other equities research analysts also recently issued reports on the stock. UBS Group lowered their price objective on shares of Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their target price on Globant from $248.00 to $242.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Jefferies Financial Group boosted their price target on Globant from $240.00 to $255.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Susquehanna decreased their price objective on Globant from $255.00 to $225.00 and set a "positive" rating for the company in a report on Tuesday, April 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $220.00 price target on shares of Globant in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $209.94.

Globant Stock Down 0.8 %

Shares of GLOB traded down $0.90 during trading hours on Monday, reaching $105.69. The stock had a trading volume of 401,366 shares, compared to its average volume of 595,817. The company has a market cap of $4.65 billion, a P/E ratio of 28.41, a P/E/G ratio of 2.38 and a beta of 1.50. Globant has a 52 week low of $96.23 and a 52 week high of $238.32. The firm has a 50-day moving average of $139.24 and a 200 day moving average of $190.00.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.39). Globant had a return on equity of 11.83% and a net margin of 6.86%. The business had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. As a group, equities analysts expect that Globant will post 5.73 earnings per share for the current year.

Institutional Trading of Globant

Several hedge funds have recently added to or reduced their stakes in GLOB. Centricity Wealth Management LLC acquired a new stake in shares of Globant during the fourth quarter worth $38,000. Kestra Investment Management LLC bought a new stake in Globant in the 4th quarter valued at about $38,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Globant during the 3rd quarter worth approximately $40,000. Van Berkom & Associates Inc. bought a new position in shares of Globant during the fourth quarter worth approximately $45,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Globant by 186.7% in the first quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider's stock valued at $45,000 after buying an additional 252 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

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.