StockNews.com upgraded shares of Globant (NYSE:GLOB – Free Report) from a sell rating to a hold rating in a report issued on Friday.
A number of other research analysts have also weighed in on the stock. Jefferies Financial Group lifted their price target on shares of Globant from $235.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Scotiabank boosted their price objective on shares of Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 21st. UBS Group reiterated a “neutral” rating and set a $235.00 target price (up previously from $225.00) on shares of Globant in a report on Tuesday, August 20th. Canaccord Genuity Group lifted their price target on Globant from $175.00 to $205.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Finally, Citigroup upped their price objective on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $226.21.
Check Out Our Latest Research Report on GLOB
Globant Stock Down 1.1 %
Globant (NYSE:GLOB – Get Free Report) last released its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The company had revenue of $587.46 million for the quarter, compared to analyst estimates of $586.72 million. During the same quarter last year, the firm posted $1.04 earnings per share. Globant’s revenue was up 18.1% compared to the same quarter last year. Research analysts expect that Globant will post 5.06 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of GLOB. Seven Eight Capital LP acquired a new stake in Globant in the 1st quarter valued at about $2,138,000. Vanguard Group Inc. boosted its stake in shares of Globant by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock worth $22,681,000 after acquiring an additional 8,267 shares during the period. Cetera Investment Advisers boosted its stake in shares of Globant by 1,079.8% during the 1st quarter. Cetera Investment Advisers now owns 20,140 shares of the information technology services provider’s stock worth $4,066,000 after acquiring an additional 18,433 shares during the period. Jupiter Asset Management Ltd. increased its holdings in shares of Globant by 14.6% during the 1st quarter. Jupiter Asset Management Ltd. now owns 42,584 shares of the information technology services provider’s stock worth $8,598,000 after acquiring an additional 5,441 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in Globant by 97.4% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 154,538 shares of the information technology services provider’s stock valued at $27,548,000 after acquiring an additional 76,256 shares during the period. Institutional investors own 91.60% of the company’s stock.
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.
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