Globant (NYSE:GLOB – Get Free Report) had its price objective upped by Citigroup from $215.00 to $220.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the information technology services provider’s stock. Citigroup’s price objective would indicate a potential upside of 12.81% from the stock’s current price.
Several other research firms also recently issued reports on GLOB. TD Cowen cut their price target on Globant from $235.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, May 17th. Canaccord Genuity Group cut their price target on Globant from $230.00 to $175.00 and set a “hold” rating for the company in a research note on Friday, May 17th. Wedbush cut their price target on Globant from $250.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, May 17th. Mizuho cut their price target on Globant from $279.00 to $252.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Finally, Guggenheim assumed coverage on Globant in a research note on Tuesday, March 19th. They set a “buy” rating and a $250.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $216.72.
View Our Latest Report on GLOB
Globant Trading Up 2.4 %
Globant (NYSE:GLOB – Get Free Report) last released its quarterly earnings data on Thursday, May 16th. The information technology services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. Globant had a net margin of 7.62% and a return on equity of 11.60%. The company had revenue of $571.08 million for the quarter, compared to analysts’ expectations of $570.72 million. Sell-side analysts predict that Globant will post 5 EPS for the current fiscal year.
Institutional Investors Weigh In On Globant
Institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC increased its position in Globant by 13.5% in the fourth quarter. CWM LLC now owns 572 shares of the information technology services provider’s stock worth $136,000 after buying an additional 68 shares during the period. Janney Capital Management LLC increased its position in Globant by 3.1% in 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 during the period. Benjamin F. Edwards & Company Inc. increased its position in Globant by 3.9% in the first 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 during the period. Envestnet Portfolio Solutions Inc. increased its position in Globant by 1.0% in 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 period. Finally, Handelsbanken Fonder AB increased its position in Globant by 1.3% in the fourth quarter. Handelsbanken Fonder AB now owns 8,000 shares of the information technology services provider’s stock worth $1,904,000 after buying an additional 100 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.
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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