Globant (NYSE:GLOB) PT Lowered to $235.00 at Citigroup

Globant (NYSE:GLOB) had its price objective trimmed by Citigroup from $275.00 to $235.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a buy rating on the information technology services provider’s stock.

A number of other analysts have also recently weighed in on GLOB. Piper Sandler upped their price target on Globant from $257.00 to $290.00 and gave the company an overweight rating in a research report on Friday, February 16th. Wedbush reiterated an outperform rating and issued a $250.00 price target on shares of Globant in a research report on Friday, February 16th. Needham & Company LLC upped their price target on Globant from $215.00 to $275.00 and gave the company a buy rating in a research report on Friday, January 26th. Canaccord Genuity Group reiterated a hold rating and issued a $230.00 price target on shares of Globant in a research report on Tuesday, February 20th. Finally, Mizuho reiterated a buy rating and issued a $279.00 price target (down from $283.00) on shares of Globant in a research report on Tuesday, February 20th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Globant has an average rating of Moderate Buy and a consensus price target of $244.24.

Globant Trading Up 1.4 %

Shares of NYSE GLOB opened at $183.32 on Monday. The business has a fifty day simple moving average of $206.27 and a 200 day simple moving average of $212.32. The firm has a market capitalization of $7.90 billion, a price-to-earnings ratio of 50.50, a PEG ratio of 1.36 and a beta of 1.35. Globant has a one year low of $135.40 and a one year high of $251.50.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, February 15th. The information technology services provider reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). Globant had a net margin of 7.56% and a return on equity of 11.38%. The firm had revenue of $580.71 million during the quarter, compared to analyst estimates of $579.70 million. On average, research analysts anticipate that Globant will post 5.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Globant

Several hedge funds have recently added to or reduced their stakes in GLOB. National Bank of Canada FI boosted its holdings in Globant by 1.9% in the third quarter. National Bank of Canada FI now owns 3,447 shares of the information technology services provider’s stock valued at $693,000 after acquiring an additional 65 shares during the last quarter. CWM LLC boosted its holdings in Globant by 20.9% in the third quarter. CWM LLC now owns 504 shares of the information technology services provider’s stock valued at $100,000 after acquiring an additional 87 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Globant by 270.0% in the third quarter. SG Americas Securities LLC now owns 4,233 shares of the information technology services provider’s stock valued at $837,000 after acquiring an additional 3,089 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in Globant by 27.4% in the third quarter. Handelsbanken Fonder AB now owns 7,900 shares of the information technology services provider’s stock valued at $1,563,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Manning & Napier Group LLC lifted its stake in Globant by 10.3% in the third quarter. Manning & Napier Group LLC now owns 47,598 shares of the information technology services provider’s stock valued at $9,417,000 after buying an additional 4,463 shares during the period. 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.