Globant (NYSE:GLOB) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Globant (NYSE:GLOB) from a hold rating to a sell rating in a report published on Friday.

Several other equities research analysts have also recently weighed in on GLOB. Scotiabank reduced their target price on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a research note on Monday, February 24th. UBS Group reduced their price objective on Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price objective on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Susquehanna reduced their target price on Globant from $225.00 to $160.00 and set a “positive” rating for the company in a research report on Wednesday, April 23rd. Finally, Jefferies Financial Group lifted their price target on shares of Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $205.88.

Globant Stock Up 0.5 %

Shares of NYSE:GLOB opened at $119.00 on Friday. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 2.38 and a beta of 1.50. The business has a 50 day moving average price of $128.05 and a 200 day moving average price of $186.65. Globant has a twelve month low of $96.23 and a twelve month high of $238.32.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The business had revenue of $642.48 million for the quarter, compared to analyst estimates of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. Analysts anticipate that Globant will post 5.73 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in Globant by 15.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,493 shares of the information technology services provider’s stock valued at $2,648,000 after buying an additional 2,967 shares during the last quarter. Border to Coast Pensions Partnership Ltd boosted its holdings in Globant by 53.0% in the first quarter. Border to Coast Pensions Partnership Ltd now owns 136,994 shares of the information technology services provider’s stock valued at $16,127,000 after acquiring an additional 47,455 shares during the last quarter. Artemis Investment Management LLP increased its position in Globant by 69.9% in the first quarter. Artemis Investment Management LLP now owns 44,058 shares of the information technology services provider’s stock worth $5,187,000 after purchasing an additional 18,124 shares during the period. Bessemer Group Inc. bought a new stake in Globant during the 1st quarter worth about $39,000. Finally, Oppenheimer & Co. Inc. lifted its position in Globant by 78.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 13,680 shares of the information technology services provider’s stock valued at $1,610,000 after purchasing an additional 6,015 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.