Globant (NYSE:GLOB) PT Raised to $251.00

Globant (NYSE:GLOB) had its price target increased by Citigroup from $240.00 to $251.00 in a research report report published on Monday, Benzinga reports. Citigroup currently has a buy rating on the information technology services provider’s stock.

GLOB has been the subject of several other reports. Needham & Company LLC boosted their price target on Globant from $200.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, August 16th. KeyCorp increased their target price on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $240.00 price target (up previously from $238.00) on shares of Globant in a research note on Friday, August 16th. StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a research report on Thursday, August 22nd. They issued a “hold” rating and a $210.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $225.63.

Globant Price Performance

Shares of NYSE GLOB opened at $219.26 on Monday. The firm has a market cap of $9.45 billion, a price-to-earnings ratio of 57.55, a P/E/G ratio of 2.70 and a beta of 1.39. The stock’s fifty day moving average price is $203.10 and its two-hundred day moving average price is $187.33. Globant has a one year low of $151.68 and a one year high of $251.50.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The business had revenue of $587.46 million for the quarter, compared to the consensus estimate of $586.72 million. During the same period in the prior year, the company posted $1.04 earnings per share. Globant’s revenue was up 18.1% compared to the same quarter last year. On average, equities analysts anticipate that Globant will post 5.02 earnings per share for the current fiscal year.

Institutional Trading of Globant

A number of hedge funds have recently made changes to their positions in GLOB. Stephens Inc. AR raised its holdings in Globant by 10.0% in the 3rd quarter. Stephens Inc. AR now owns 2,539 shares of the information technology services provider’s stock valued at $503,000 after buying an additional 230 shares during the last quarter. Parcion Private Wealth LLC acquired a new position in Globant in the 3rd quarter valued at approximately $214,000. International Assets Investment Management LLC bought a new position in shares of Globant during the third quarter valued at $36,510,000. Signaturefd LLC lifted its holdings in shares of Globant by 46.0% during the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 92 shares during the period. Finally, Raymond James & Associates lifted its holdings in shares of Globant by 27.4% during the third quarter. Raymond James & Associates now owns 79,234 shares of the information technology services provider’s stock worth $15,699,000 after purchasing an additional 17,035 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

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.