Globant (NYSE:GLOB) Given New $226.00 Price Target at JPMorgan Chase & Co.

Globant (NYSE:GLOB) had its price target lifted by JPMorgan Chase & Co. from $218.00 to $226.00 in a research note published on Friday, Benzinga reports. The firm currently has an overweight rating on the information technology services provider’s stock.

GLOB has been the subject of several other reports. Citigroup upped their target price on shares of Globant from $215.00 to $220.00 and gave the company a buy rating in a research note on Friday, July 12th. Redburn Atlantic assumed coverage on shares of Globant in a research report on Friday, May 24th. They set a sell rating and a $135.00 price objective for the company. Scotiabank boosted their price target on shares of Globant from $190.00 to $200.00 and gave the company a sector perform rating in a report on Monday, July 29th. KeyCorp lifted their target price on Globant from $220.00 to $235.00 and gave the company an overweight rating in a research note on Friday. Finally, TD Cowen lowered their price objective on shares of Globant from $235.00 to $220.00 and set a buy rating on the stock in a research note on Friday, May 17th. Two analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Globant presently has a consensus rating of Moderate Buy and an average target price of $219.56.

Globant Trading Down 1.1 %

Shares of GLOB opened at $201.90 on Friday. The firm’s 50-day moving average is $182.68 and its two-hundred day moving average is $191.94. The firm has a market capitalization of $8.70 billion, a P/E ratio of 52.99, a PEG ratio of 1.98 and a beta of 1.41. Globant has a twelve month low of $151.68 and a twelve month high of $251.50.

Globant (NYSE:GLOB) last issued 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. 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 7.62% and a return on equity of 11.60%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.04 earnings per share. Analysts predict that Globant will post 5 EPS for the current year.

Institutional Investors Weigh In On Globant

A number of institutional investors have recently modified their holdings of the stock. 17 Capital Partners LLC lifted its stake in shares of Globant by 1.6% in 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 during the last quarter. CWM LLC boosted its holdings in Globant by 13.5% in the 4th quarter. CWM LLC now owns 572 shares of the information technology services provider’s stock valued at $136,000 after purchasing an additional 68 shares during the period. Janney Capital Management LLC boosted its stake in Globant by 3.1% during the fourth quarter. Janney Capital Management LLC now owns 2,538 shares of the information technology services provider’s stock worth $604,000 after buying an additional 76 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised 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 buying an additional 81 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its stake 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 buying an additional 89 shares during the last quarter. Institutional investors and hedge funds 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.