Piper Sandler Lowers Globant (NYSE:GLOB) Price Target to $154.00

Globant (NYSE:GLOB) had its price objective decreased by equities research analysts at Piper Sandler from $230.00 to $154.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the information technology services provider’s stock. Piper Sandler’s price objective suggests a potential upside of 45.71% from the stock’s current price.

GLOB has been the subject of several other research reports. Redburn Atlantic upgraded shares of 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 research note on Tuesday, February 25th. Canaccord Genuity Group decreased their target price on Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research report on Monday, February 24th. JPMorgan Chase & Co. dropped their price target on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Jefferies Financial Group increased their price target on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Finally, Scotiabank lowered their price objective on Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Globant has an average rating of “Moderate Buy” and a consensus price target of $209.94.

Globant Trading Down 0.8 %

Shares of GLOB opened at $105.69 on Wednesday. The stock has a 50 day moving average of $141.44 and a 200 day moving average of $190.63. Globant has a 12 month low of $96.23 and a 12 month high of $238.32. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 2.38 and a beta of 1.50.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Barclays PLC grew its position in Globant by 132.9% during the third quarter. Barclays PLC now owns 22,537 shares of the information technology services provider’s stock worth $4,467,000 after buying an additional 12,862 shares in the last quarter. M&T Bank Corp boosted its position in shares of Globant by 3.8% during the 3rd quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock valued at $326,000 after acquiring an additional 60 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Globant by 26.2% during the third quarter. Sanctuary Advisors LLC now owns 3,312 shares of the information technology services provider’s stock worth $656,000 after purchasing an additional 688 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Globant in the third quarter worth approximately $40,000. Finally, Franklin Resources Inc. raised its stake in 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 purchasing an additional 71 shares in 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.