Globant (NYSE:GLOB) Price Target Raised to $237.00

Globant (NYSE:GLOB) had its price objective boosted by JPMorgan Chase & Co. from $226.00 to $237.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the information technology services provider’s stock.

A number of other analysts have also recently commented on GLOB. StockNews.com cut Globant from a hold rating to a sell rating in a research report on Tuesday, August 27th. Citigroup lifted their price target on Globant from $215.00 to $220.00 and gave the stock a buy rating in a research report on Friday, July 12th. Needham & Company LLC increased their price objective on Globant from $200.00 to $245.00 and gave the company a buy rating in a report on Friday, August 16th. TD Cowen raised their target price on shares of Globant from $220.00 to $230.00 and gave the stock a buy rating in a research report on Friday, August 16th. Finally, Redburn Atlantic started coverage on shares of Globant in a research report on Friday, May 24th. They issued a sell rating and a $135.00 price target for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $222.90.

Globant Stock Up 1.1 %

GLOB stock opened at $197.07 on Friday. The business has a 50 day moving average price of $192.72 and a 200 day moving average price of $188.41. The stock has a market cap of $8.49 billion, a price-to-earnings ratio of 51.72, a PEG ratio of 2.42 and a beta of 1.40. Globant has a fifty-two week low of $151.68 and a fifty-two week high of $251.50.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. The business had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. Globant had a net margin of 7.39% and a return on equity of 11.68%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.04 EPS. As a group, sell-side analysts anticipate that Globant will post 5.01 EPS for the current year.

Institutional Trading of Globant

A number of institutional investors have recently modified their holdings of GLOB. 17 Capital Partners LLC boosted its holdings in Globant by 1.6% during the second quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider’s stock worth $616,000 after buying an additional 55 shares in the last quarter. Janney Capital Management LLC grew its holdings in shares of Globant by 3.1% in the 4th quarter. Janney Capital Management LLC now owns 2,538 shares of the information technology services provider’s stock worth $604,000 after acquiring an additional 76 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Globant by 3.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,140 shares of the information technology services provider’s stock worth $432,000 after acquiring an additional 81 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in Globant by 1.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 9,205 shares of the information technology services provider’s stock worth $2,191,000 after purchasing an additional 89 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Globant by 5.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,800 shares of the information technology services provider’s stock worth $428,000 after purchasing an additional 100 shares during the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

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.