Globant (NYSE:GLOB) Downgraded to "Sell" Rating by StockNews.com

Globant (NYSE:GLOB - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued on Friday.

Several other equities research analysts have also recently commented on GLOB. Piper Sandler dropped their price target on shares of Globant from $230.00 to $154.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Canaccord Genuity Group dropped their price target on Globant from $205.00 to $165.00 and set a "hold" rating on the stock in a report on Monday, February 24th. UBS Group reduced their price objective on Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Susquehanna dropped their target price 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. Finally, Needham & Company LLC reiterated a "buy" rating and set a $220.00 price objective on shares of Globant in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $204.00.

Globant Stock Down 1.4 %

Globant stock traded down $1.61 during mid-day trading on Friday, hitting $117.44. 665,527 shares of the company's stock traded hands, compared to its average volume of 608,205. Globant has a one year low of $96.23 and a one year high of $238.32. The company has a market cap of $5.17 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 2.38 and a beta of 1.50. The firm has a 50 day moving average price of $123.55 and a 200 day moving average price of $185.10.

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

Hedge Funds Weigh In On Globant

Institutional investors have recently made changes to their positions in the business. Centricity Wealth Management LLC acquired a new stake in Globant in the 4th quarter valued at approximately $38,000. Kestra Investment Management LLC bought a new stake in shares of Globant in the fourth quarter valued at approximately $38,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Globant in the third quarter worth $40,000. Van Berkom & Associates Inc. bought a new position in Globant during the fourth quarter worth $45,000. Finally, Physician Wealth Advisors Inc. increased 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 worth $31,000 after acquiring an additional 155 shares during the period. 91.60% of the stock is currently owned by institutional investors.

About Globant

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.