Globant (NYSE:GLOB - Get Free Report) had its price target reduced by Scotiabank from $260.00 to $230.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a "sector outperform" rating on the information technology services provider's stock. Scotiabank's price objective would indicate a potential upside of 25.20% from the company's current price.
Several other research firms have also commented on GLOB. Guggenheim initiated coverage on shares of Globant in a research report on Tuesday, March 19th. They set a "buy" rating and a $250.00 price target on the stock. Canaccord Genuity Group reaffirmed a "hold" rating and set a $230.00 price objective on shares of Globant in a report on Tuesday, February 20th. Wedbush reaffirmed an "outperform" rating and set a $250.00 price objective on shares of Globant in a report on Friday, February 16th. Piper Sandler increased their price objective on shares of Globant from $257.00 to $290.00 and gave the company an "overweight" rating in a report on Friday, February 16th. Finally, Needham & Company LLC raised their price target on shares of Globant from $215.00 to $275.00 and gave the stock a "buy" rating in a research note on Friday, January 26th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Globant has an average rating of "Moderate Buy" and a consensus price target of $245.41.
Check Out Our Latest Stock Report on Globant
Globant Stock Up 1.6 %
Shares of NYSE:GLOB traded up $2.88 during midday trading on Monday, reaching $183.71. The company's stock had a trading volume of 291,608 shares, compared to its average volume of 446,746. The firm has a market capitalization of $7.92 billion, a PE ratio of 50.61, a P/E/G ratio of 1.37 and a beta of 1.35. Globant has a twelve month low of $135.40 and a twelve month high of $251.50. The stock has a fifty day moving average of $204.22 and a 200 day moving average of $212.18.
Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $1.26 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.08). The firm had revenue of $580.71 million for the quarter, compared to analyst estimates of $579.70 million. Globant had a net margin of 7.56% and a return on equity of 11.38%. Sell-side analysts anticipate that Globant will post 5.03 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Globant
A number of institutional investors have recently bought and sold shares of GLOB. CI Investments Inc. raised its stake in Globant by 122.0% during the third quarter. CI Investments Inc. now owns 131 shares of the information technology services provider's stock worth $26,000 after purchasing an additional 72 shares during the period. Accent Capital Management LLC purchased a new stake in shares of Globant in the 4th quarter valued at approximately $29,000. Principal Securities Inc. purchased a new stake in shares of Globant in the 4th quarter valued at approximately $56,000. GAMMA Investing LLC purchased a new stake in shares of Globant in the 4th quarter valued at approximately $68,000. Finally, CWM LLC raised its stake in shares of Globant by 20.9% in the 3rd quarter. CWM LLC now owns 504 shares of the information technology services provider's stock valued at $100,000 after acquiring an additional 87 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.
About Globant
(
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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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