Globant (NYSE:GLOB – Get Free Report) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Monday.
A number of other research firms have also recently weighed in on GLOB. Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th. Jefferies Financial Group lifted their price target on shares of Globant from $240.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Piper Sandler decreased their price objective on shares of Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Canaccord Genuity Group dropped their target price on shares of Globant from $205.00 to $165.00 and set a “hold” rating for the company in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. decreased their price target on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $214.69.
Read Our Latest Stock Analysis on Globant
Globant Trading Up 0.4 %
Globant (NYSE:GLOB – Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39). The firm 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%. Equities analysts forecast that Globant will post 5.73 EPS for the current fiscal year.
Hedge Funds Weigh In On Globant
A number of institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Globant in the 4th quarter valued at approximately $16,737,000. Cullen Frost Bankers Inc. boosted its position in shares of Globant by 5.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider’s stock worth $11,350,000 after buying an additional 2,505 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Globant by 8.6% in the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider’s stock valued at $551,506,000 after buying an additional 203,472 shares in the last quarter. NS Partners Ltd purchased a new stake in shares of Globant in the 4th quarter valued at $18,933,000. Finally, Segall Bryant & Hamill LLC boosted its holdings in Globant by 364.7% during the 4th quarter. Segall Bryant & Hamill LLC now owns 118,065 shares of the information technology services provider’s stock valued at $25,315,000 after acquiring an additional 92,661 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.
About Globant
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.
Recommended Stories
- Five stocks we like better than Globant
- P/E Ratio Calculation: How to Assess Stocks
- Beware of BigBear.ai: Insiders Are Selling—Should You?
- Investing In Preferred Stock vs. Common Stock
- CrowdStrike Stock is a Buy as Cyberthreat Environment Expands
- How Technical Indicators Can Help You Find Oversold Stocks
- Congress! Who Traded What During the Tariff-Induced Meltdown
Receive News & Ratings for Globant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globant and related companies with MarketBeat.com's FREE daily email newsletter.