Globant (NYSE:GLOB) Price Target Increased to $240.00 by Analysts at Jefferies Financial Group

Globant (NYSE:GLOB) had its price target raised by Jefferies Financial Group from $235.00 to $240.00 in a research report released on Monday, Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

A number of other equities research analysts also recently commented on GLOB. Needham & Company LLC lifted their target price on shares of Globant from $200.00 to $245.00 and gave the stock a buy rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a research report on Thursday, August 22nd. They set a hold rating and a $210.00 price objective for the company. Mizuho cut their price objective on shares of Globant from $279.00 to $252.00 and set a buy rating for the company in a research report on Wednesday, May 22nd. Piper Sandler reissued an overweight rating and set a $240.00 price objective (up previously from $238.00) on shares of Globant in a research report on Friday, August 16th. Finally, The Goldman Sachs Group initiated coverage on shares of Globant in a research report on Monday, June 24th. They set a buy rating and a $200.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $222.90.

Globant Trading Down 1.8 %

NYSE:GLOB opened at $197.35 on Monday. Globant has a 12 month low of $151.68 and a 12 month high of $251.50. The company has a market cap of $8.50 billion, a PE ratio of 51.80, a price-to-earnings-growth ratio of 2.42 and a beta of 1.40. The company has a 50 day simple moving average of $194.09 and a two-hundred day simple moving average of $188.37.

Globant (NYSE:GLOB) last posted its 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 net margin of 7.39% and a return on equity of 11.68%. The business had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. During the same quarter in the previous year, the firm posted $1.04 EPS. The firm’s revenue was up 18.1% on a year-over-year basis. Research analysts forecast that Globant will post 5.01 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GLOB. Amalgamated Bank boosted its holdings in shares of Globant by 2.7% during the 4th quarter. Amalgamated Bank now owns 9,022 shares of the information technology services provider’s stock valued at $2,147,000 after purchasing an additional 235 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of Globant during the 4th quarter valued at about $306,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Globant by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,970 shares of the information technology services provider’s stock valued at $9,988,000 after purchasing an additional 2,470 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Globant during the 4th quarter valued at about $56,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Globant by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 273,687 shares of the information technology services provider’s stock valued at $65,135,000 after purchasing an additional 7,226 shares during the last quarter. 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.