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

by · The Markets Daily

StockNews.com lowered shares of Globant (NYSE:GLOB – Free Report) from a hold rating to a sell rating in a report published on Saturday morning.

GLOB has been the subject of several other reports. Piper Sandler reduced their price objective on Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Canaccord Genuity Group decreased their price target on shares of Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a research report on Monday, February 24th. UBS Group cut their price objective on shares of Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Jefferies Financial Group increased their target price on shares of Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $220.00 price target on shares of Globant in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $219.71.

Read Our Latest Analysis on Globant

Globant Trading Down 0.7 %

NYSE GLOB opened at $117.70 on Friday. Globant has a 1 year low of $114.18 and a 1 year high of $238.32. The company has a fifty day simple moving average of $172.69 and a 200 day simple moving average of $199.83. The company has a market cap of $5.18 billion, a P/E ratio of 31.64, a P/E/G ratio of 2.38 and a beta of 1.47.

Globant (NYSE:GLOB – Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The firm had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. Equities research analysts forecast that Globant will post 5.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Globant

Several institutional investors and hedge funds have recently made changes to their positions in GLOB. Wealth Enhancement Advisory Services LLC bought a new position in Globant during the 4th quarter valued at about $274,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Globant in the fourth quarter valued at approximately $18,828,000. Jefferies Financial Group Inc. boosted its holdings in shares of Globant by 5.6% in the 4th quarter. Jefferies Financial Group Inc. now owns 16,400 shares of the information technology services provider’s stock worth $3,516,000 after acquiring an additional 870 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Globant by 163.4% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 122,500 shares of the information technology services provider’s stock worth $26,266,000 after acquiring an additional 76,000 shares in the last quarter. Finally, Vident Advisory LLC acquired a new stake in Globant during the 4th quarter valued at $235,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Company Profile

(Get Free Report)

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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