Globant (NYSE:GLOB) Upgraded at StockNews.com

Globant (NYSE:GLOB - Get Free Report) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a report released on Saturday.

A number of other research analysts also recently issued reports on GLOB. Canaccord Genuity Group reduced their price objective on Globant from $205.00 to $165.00 and set a "hold" rating for the company in a research note on Monday, February 24th. Needham & Company LLC reissued a "buy" rating and set a $220.00 price objective on shares of Globant in a report on Wednesday, March 12th. Piper Sandler dropped their price objective on shares of Globant from $230.00 to $154.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. UBS Group lowered their price target on shares of Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Finally, Redburn Atlantic raised Globant from a "sell" rating to a "neutral" rating and raised their price target for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Globant currently has an average rating of "Moderate Buy" and a consensus target price of $204.00.

Globant Price Performance

GLOB stock traded up $2.90 during midday trading on Friday, reaching $122.45. The company had a trading volume of 448,000 shares, compared to its average volume of 608,378. The stock has a 50 day moving average price of $120.81 and a 200-day moving average price of $182.18. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 32.94, a price-to-earnings-growth ratio of 2.38 and a beta of 1.37. Globant has a 1-year low of $96.23 and a 1-year high of $238.32.

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

Institutional Trading of Globant

Several hedge funds and other institutional investors have recently bought and sold shares of GLOB. Franklin Resources Inc. increased its position in shares of Globant by 0.6% in the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider's stock valued at $2,704,000 after acquiring an additional 71 shares during the period. Congress Wealth Management LLC DE grew its position in 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 valued at $575,000 after purchasing an additional 76 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Globant by 29.7% during the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock valued at $46,000 after buying an additional 89 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in 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 valued at $3,965,000 after purchasing an additional 110 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Globant by 23.6% during the first quarter. Blue Trust Inc. now owns 607 shares of the information technology services provider's stock valued at $71,000 after purchasing an additional 116 shares during the period. Institutional investors own 91.60% of the company's stock.

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.