Globant (NYSE:GLOB) Shares Gap Down to $191.05

Globant S.A. (NYSE:GLOB) shares gapped down prior to trading on Thursday . The stock had previously closed at $191.05, but opened at $179.54. Globant shares last traded at $175.97, with a volume of 183,995 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GLOB shares. Piper Sandler upped their price objective on shares of Globant from $257.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Wedbush reissued an “outperform” rating and set a $250.00 price target on shares of Globant in a research note on Friday, February 16th. Mizuho reissued a “buy” rating and set a $279.00 target price (down from $283.00) on shares of Globant in a report on Tuesday, February 20th. JPMorgan Chase & Co. reduced their price objective on shares of Globant from $273.00 to $257.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Finally, Guggenheim initiated coverage on Globant in a report on Tuesday, March 19th. They set a “buy” rating and a $250.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Globant presently has an average rating of “Moderate Buy” and a consensus target price of $244.35.

Globant Trading Down 8.7 %

The stock has a 50 day simple moving average of $197.94 and a 200 day simple moving average of $211.78. The firm has a market capitalization of $7.52 billion, a PE ratio of 48.26, a PEG ratio of 1.40 and a beta of 1.35.

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 the consensus estimate of $1.34 by ($0.08). The firm had revenue of $580.71 million during the quarter, compared to analysts’ expectations 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 anticipate that Globant S.A. will post 5.03 earnings per share for the current year.

Institutional Investors Weigh In On Globant

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Alliance lifted its stake in shares of Globant by 3.5% during the 3rd quarter. Wealth Alliance now owns 1,763 shares of the information technology services provider’s stock valued at $349,000 after buying an additional 59 shares in the last quarter. Janney Capital Management LLC lifted its holdings in shares of Globant by 2.5% in the 3rd quarter. Janney Capital Management LLC now owns 2,462 shares of the information technology services provider’s stock valued at $487,000 after acquiring an additional 61 shares during the last quarter. CWM LLC increased its stake in Globant by 13.5% during the fourth quarter. CWM LLC now owns 572 shares of the information technology services provider’s stock worth $136,000 after acquiring an additional 68 shares during the last quarter. CI Investments Inc. lifted its stake in shares of 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 purchasing an additional 72 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Globant by 3.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,140 shares of the information technology services provider’s stock worth $432,000 after purchasing an additional 81 shares during the period. 91.60% of the stock is currently owned by hedge funds and other 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.