Globant (NYSE:GLOB) Lowered 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 report issued to clients and investors on Sunday.

Several other equities analysts have also recently issued reports on the company. Susquehanna dropped their target price on Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. UBS Group dropped their target price on Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Needham & Company LLC reiterated a "buy" rating and set a $220.00 target price on shares of Globant in a research report on Wednesday, March 12th. Piper Sandler lowered their price target on Globant from $230.00 to $154.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lowered their price target on Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. One 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 company currently has an average rating of "Moderate Buy" and a consensus target price of $204.00.

Globant Trading Down 0.8%

Shares of Globant stock traded down $1.12 on Friday, hitting $132.56. The stock had a trading volume of 564,743 shares, compared to its average volume of 622,888. Globant has a 52-week low of $96.23 and a 52-week high of $238.32. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 35.59, a P/E/G ratio of 2.38 and a beta of 1.37. The company's 50 day moving average price is $119.35 and its 200 day moving average price is $178.84.

Globant (NYSE:GLOB - Get Free Report) last issued 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). The company had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. Analysts predict that Globant will post 5.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Globant

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. lifted its stake in Globant by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider's stock valued at $2,704,000 after buying an additional 71 shares in the last quarter. Congress Wealth Management LLC DE lifted its stake 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 worth $575,000 after purchasing an additional 76 shares during the period. Signaturefd LLC lifted its stake 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 worth $46,000 after purchasing an additional 89 shares during the period. Treasurer of the State of North Carolina lifted its stake 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 worth $3,965,000 after purchasing an additional 110 shares during the period. Finally, Blue Trust Inc. lifted its stake 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 worth $71,000 after purchasing an additional 116 shares during the period. Hedge funds and other 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.