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Globant (NYSE:GLOB) Now Covered by Analysts at The Goldman Sachs Group

Globant logo with Computer and Technology background

The Goldman Sachs Group initiated coverage on shares of Globant (NYSE:GLOB - Free Report) in a research note published on Monday, Marketbeat reports. The firm issued a buy rating and a $200.00 price objective on the information technology services provider's stock.

Other research analysts have also issued reports about the stock. Redburn Atlantic started coverage on shares of Globant in a research report on Friday, May 24th. They set a sell rating and a $135.00 price target for the company. Scotiabank reduced their price target on shares of Globant from $200.00 to $190.00 and set a sector perform rating for the company in a research report on Friday, May 17th. Citigroup cut their target price on shares of Globant from $235.00 to $215.00 and set a buy rating for the company in a research report on Friday, May 17th. Needham & Company LLC reiterated a buy rating and issued a $200.00 target price on shares of Globant in a research report on Thursday, June 13th. Finally, Wedbush cut their target price on shares of Globant from $250.00 to $200.00 and set an outperform rating for the company in a research report on Friday, May 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Globant has a consensus rating of Moderate Buy and a consensus target price of $216.44.

Read Our Latest Stock Analysis on Globant


Globant Stock Performance

Globant stock traded up $1.56 during mid-day trading on Monday, reaching $173.62. The company's stock had a trading volume of 976,371 shares, compared to its average volume of 506,894. The firm's fifty day moving average price is $170.93 and its two-hundred day moving average price is $204.90. The company has a market capitalization of $7.48 billion, a P/E ratio of 45.57, a PEG ratio of 1.73 and a beta of 1.40. Globant has a 12-month low of $151.68 and a 12-month high of $251.50.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings results on Thursday, May 16th. The information technology services provider reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.01. The firm had revenue of $571.08 million during the quarter, compared to analyst estimates of $570.72 million. Globant had a net margin of 7.62% and a return on equity of 11.60%. On average, research analysts predict that Globant will post 5.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Globant

Several hedge funds and other institutional investors have recently modified their holdings of GLOB. CI Investments Inc. raised its stake in shares of Globant by 122.0% during the third quarter. CI Investments Inc. now owns 131 shares of the information technology services provider's stock valued at $26,000 after acquiring an additional 72 shares during the last quarter. Accent Capital Management LLC bought a new position in Globant in the fourth quarter worth about $29,000. BOKF NA raised its stake in Globant by 15,800.0% in the first quarter. BOKF NA now owns 159 shares of the information technology services provider's stock worth $32,000 after buying an additional 158 shares in the last quarter. RiverPark Advisors LLC bought a new position in Globant in the first quarter worth about $54,000. Finally, Principal Securities Inc. bought a new position in Globant in the fourth quarter worth about $56,000. 91.60% of the stock is owned by institutional investors.

Globant Company Profile

(Get Free Report)

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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Analyst Recommendations for Globant (NYSE:GLOB)

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