Globant (NYSE:GLOB) Stock Rating Lowered by StockNews.com

Globant (NYSE:GLOB) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other research analysts have also issued reports on the company. Redburn Atlantic upgraded Globant from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th. UBS Group reduced their price target on shares of Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. dropped their price objective on shares of Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Susquehanna assumed coverage on shares of Globant in a research note on Tuesday, December 17th. They set a “positive” rating and a $255.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $220.00 target price on shares of Globant in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $219.71.

Globant Price Performance

Globant stock opened at $118.48 on Friday. The company has a market cap of $5.22 billion, a PE ratio of 31.85, a P/E/G ratio of 2.38 and a beta of 1.47. Globant has a 12 month low of $117.61 and a 12 month high of $238.32. The company has a fifty day moving average price of $174.61 and a two-hundred day moving average price of $200.39.

Globant (NYSE:GLOB) last posted its quarterly earnings results 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 business had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. Equities research analysts anticipate that Globant will post 5.73 earnings per share for the current year.

Institutional Investors Weigh In On Globant

Several hedge funds and other institutional investors have recently bought and sold shares of GLOB. Cerity Partners LLC grew its stake in shares of Globant by 31.0% in the 3rd quarter. Cerity Partners LLC now owns 15,022 shares of the information technology services provider’s stock worth $2,977,000 after purchasing an additional 3,556 shares during the last quarter. Bank of Montreal Can boosted its holdings in Globant by 48.9% during the third quarter. Bank of Montreal Can now owns 21,642 shares of the information technology services provider’s stock worth $4,278,000 after buying an additional 7,110 shares in the last quarter. Townsquare Capital LLC grew its position in Globant by 15.4% in the third quarter. Townsquare Capital LLC now owns 5,878 shares of the information technology services provider’s stock worth $1,165,000 after buying an additional 784 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Globant in the third quarter valued at $11,145,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Globant by 18.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider’s stock valued at $10,663,000 after acquiring an additional 8,427 shares during the last quarter. 91.60% of the stock is currently owned by 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.