Globant (NYSE:GLOB) Price Target Lowered to $230.00 at Piper Sandler

Globant (NYSE:GLOB) had its price target reduced by Piper Sandler from $237.00 to $230.00 in a report issued on Friday,Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

GLOB has been the topic of a number of other reports. Citigroup lifted their price objective on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Monday, October 28th. UBS Group decreased their price objective on shares of Globant from $222.00 to $217.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. Needham & Company LLC decreased their price objective on shares of Globant from $265.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Scotiabank lifted their price objective on shares of Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $227.06.

Globant Trading Down 27.7 %

NYSE GLOB opened at $152.02 on Friday. Globant has a 1-year low of $151.38 and a 1-year high of $238.32. The company has a 50 day moving average of $215.37 and a 200-day moving average of $210.82. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 39.69, a PEG ratio of 2.46 and a beta of 1.39.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The business had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Globant had a net margin of 7.20% and a return on equity of 11.65%. On average, equities research analysts forecast that Globant will post 4.98 earnings per share for the current year.

Institutional Trading of Globant

Several institutional investors have recently modified their holdings of the business. Wasatch Advisors LP grew its stake in shares of Globant by 2.6% in the third quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock worth $689,553,000 after purchasing an additional 88,829 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Globant by 8.6% in the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider’s stock worth $551,506,000 after purchasing an additional 203,472 shares during the last quarter. Capital International Investors grew its stake in shares of Globant by 13.1% in the fourth quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider’s stock worth $364,723,000 after purchasing an additional 197,064 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Globant by 6.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider’s stock valued at $344,382,000 after buying an additional 96,257 shares during the period. Finally, Jennison Associates LLC lifted its holdings in Globant by 0.6% in the fourth quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider’s stock valued at $172,082,000 after buying an additional 4,970 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.