Globant (NYSE:GLOB) Stock Rating Reaffirmed by UBS Group

Globant (NYSE:GLOB)‘s stock had its “neutral” rating reaffirmed by equities researchers at UBS Group in a report issued on Tuesday, Marketbeat.com reports. They currently have a $235.00 price objective on the information technology services provider’s stock, up from their previous price objective of $225.00. UBS Group’s price target would indicate a potential upside of 13.49% from the company’s current price.

GLOB has been the topic of several other research reports. Mizuho decreased their price target on shares of Globant from $279.00 to $252.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Piper Sandler restated an “overweight” rating and set a $240.00 price objective (up previously from $238.00) on shares of Globant in a report on Friday, August 16th. Needham & Company LLC upped their target price on shares of Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Wedbush cut their price target on Globant from $250.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, May 17th. Finally, Scotiabank upped their target price on Globant from $190.00 to $200.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $222.06.

Globant Stock Performance

Globant stock opened at $207.07 on Tuesday. The stock has a market cap of $8.92 billion, a PE ratio of 54.35, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41. The stock has a fifty day moving average of $184.53 and a 200 day moving average of $191.71. Globant has a one year low of $151.68 and a one year high of $251.50.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. The firm had revenue of $587.46 million for the quarter, compared to analysts’ expectations of $586.72 million. Globant had a net margin of 7.62% and a return on equity of 11.60%. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.04 EPS. As a group, sell-side analysts predict that Globant will post 5 EPS for the current fiscal year.

Institutional Investors Weigh In On Globant

Several large investors have recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. bought a new position in Globant during the 4th quarter worth approximately $490,000. Seven Eight Capital LP acquired a new position in shares of Globant during the 1st quarter valued at $2,138,000. Vanguard Group Inc. boosted its stake in shares of Globant by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock worth $22,681,000 after acquiring an additional 8,267 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Globant by 1,079.8% in the first quarter. Cetera Investment Advisers now owns 20,140 shares of the information technology services provider’s stock worth $4,066,000 after buying an additional 18,433 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Globant by 0.9% in the 4th quarter. Franklin Resources Inc. now owns 12,672 shares of the information technology services provider’s stock valued at $3,016,000 after buying an additional 111 shares in the last quarter. Institutional investors and hedge funds 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.