Scotiabank Boosts Globant (NYSE:GLOB) Price Target to $200.00

Globant (NYSE:GLOB) had its price objective increased by investment analysts at Scotiabank from $190.00 to $200.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “sector perform” rating on the information technology services provider’s stock. Scotiabank’s target price would suggest a potential upside of 3.47% from the company’s current price.

A number of other research analysts have also recently weighed in on the stock. Canaccord Genuity Group cut their price objective on shares of Globant from $230.00 to $175.00 and set a “hold” rating on the stock in a research report on Friday, May 17th. HSBC cut their price target on shares of Globant from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Redburn Atlantic began coverage on Globant in a report on Friday, May 24th. They issued a “sell” rating and a $135.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $200.00 price objective on shares of Globant in a report on Thursday, June 13th. Finally, UBS Group raised Globant from a “neutral” rating to a “buy” rating and cut their price objective for the company from $240.00 to $230.00 in a research report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $217.28.

Globant Trading Up 0.4 %

Shares of NYSE:GLOB traded up $0.70 during trading on Monday, reaching $193.30. The company’s stock had a trading volume of 4,406 shares, compared to its average volume of 513,715. The stock has a market capitalization of $8.33 billion, a PE ratio of 50.74, a price-to-earnings-growth ratio of 1.99 and a beta of 1.41. Globant has a 12 month low of $151.68 and a 12 month high of $251.50. The firm’s 50 day simple moving average is $173.56 and its two-hundred day simple moving average is $196.94.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, May 16th. The information technology services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.01. The business had revenue of $571.08 million during the quarter, compared to analyst estimates of $570.72 million. Globant had a return on equity of 11.60% and a net margin of 7.62%. Research analysts anticipate that Globant will post 5 EPS for the current fiscal year.

Hedge Funds Weigh In On Globant

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Accent Capital Management LLC purchased a new position in Globant during the 4th quarter worth $29,000. BOKF NA increased its position in shares of Globant by 15,800.0% in the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 158 shares in the last quarter. RiverPark Advisors LLC purchased a new position in Globant during the first quarter valued at $54,000. Principal Securities Inc. acquired a new stake in Globant in the 4th quarter worth about $56,000. Finally, GAMMA Investing LLC acquired a new position in Globant in the 4th quarter valued at $68,000. Hedge funds and other 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.