Globant (NYSE:GLOB) Price Target Cut to $257.00

Globant (NYSE:GLOB) had its target price decreased by JPMorgan Chase & Co. from $273.00 to $257.00 in a report issued on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the information technology services provider’s stock.

Other research analysts also recently issued research reports about the company. Guggenheim assumed coverage on Globant in a research note on Tuesday, March 19th. They issued a buy rating and a $250.00 price objective on the stock. KeyCorp lifted their price target on shares of Globant from $266.00 to $272.00 and gave the company an overweight rating in a report on Friday, February 16th. UBS Group increased their price objective on shares of Globant from $230.00 to $240.00 and gave the stock a neutral rating in a research note on Monday, February 26th. Citigroup lowered their target price on shares of Globant from $275.00 to $235.00 and set a buy rating on the stock in a research note on Monday, April 22nd. Finally, Mizuho reiterated a buy rating and issued a $279.00 price target (down previously from $283.00) on shares of Globant in a research note on Tuesday, February 20th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $244.35.

Globant Trading Up 3.3 %

Shares of GLOB stock opened at $185.55 on Thursday. Globant has a 12-month low of $135.40 and a 12-month high of $251.50. The stock has a market capitalization of $8.00 billion, a P/E ratio of 51.12, a P/E/G ratio of 1.40 and a beta of 1.35. The firm’s 50 day moving average is $199.92 and its 200 day moving average is $211.79.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $1.26 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.08). The firm had revenue of $580.71 million during the quarter, compared to the consensus estimate of $579.70 million. Globant had a return on equity of 11.38% and a net margin of 7.56%. As a group, equities analysts predict that Globant will post 5.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GLOB. Accent Capital Management LLC purchased a new stake in Globant in the fourth quarter worth $29,000. CI Investments Inc. boosted its position in Globant by 122.0% in the 3rd quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 72 shares during the period. Principal Securities Inc. purchased a new position in shares of Globant during the fourth quarter worth approximately $56,000. RiverPark Advisors LLC bought a new stake in shares of Globant during the first quarter valued at approximately $54,000. Finally, GAMMA Investing LLC bought a new position in Globant in the fourth quarter worth approximately $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.