Globant’s (GLOB) “Overweight” Rating Reaffirmed at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Globant (NYSE:GLOB) in a research note released on Tuesday, Benzinga reports. The brokerage currently has a $238.00 price target on the information technology services provider’s stock.

A number of other equities analysts have also commented on the stock. Canaccord Genuity Group decreased their price objective on shares of Globant from $230.00 to $175.00 and set a hold rating for the company in a research note on Friday, May 17th. StockNews.com upgraded Globant from a sell rating to a hold rating in a report on Tuesday, May 21st. KeyCorp reduced their price objective on Globant from $272.00 to $220.00 and set an overweight rating for the company in a research note on Friday, May 17th. UBS Group upgraded Globant from a neutral rating to a buy rating and dropped their target price for the company from $240.00 to $230.00 in a report on Tuesday, May 28th. Finally, Redburn Atlantic began coverage on shares of Globant in a report on Friday, May 24th. They set a sell rating and a $135.00 price target for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Globant currently has an average rating of Moderate Buy and a consensus price target of $216.72.

Globant Stock Up 2.6 %

GLOB opened at $197.05 on Tuesday. The firm has a market cap of $8.49 billion, a PE ratio of 51.72, a P/E/G ratio of 1.98 and a beta of 1.41. The business has a fifty day simple moving average of $173.06 and a 200-day simple moving average of $197.58. Globant has a fifty-two week low of $151.68 and a fifty-two week high of $251.50.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, May 16th. The information technology services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.01. Globant had a return on equity of 11.60% and a net margin of 7.62%. The firm had revenue of $571.08 million for the quarter, compared to the consensus estimate of $570.72 million. On average, equities research analysts anticipate that Globant will post 5 EPS for the current fiscal year.

Hedge Funds Weigh In On Globant

A number of institutional investors and hedge funds have recently bought and sold shares of GLOB. Accent Capital Management LLC acquired a new stake in Globant in the 4th quarter worth $29,000. BOKF NA grew its position in Globant by 15,800.0% during the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after buying an additional 158 shares in the last quarter. RiverPark Advisors LLC bought a new position in Globant during the first quarter valued at about $54,000. Principal Securities Inc. acquired a new position in Globant in the 4th quarter valued at approximately $56,000. Finally, GAMMA Investing LLC bought a new stake in shares of Globant in the 4th quarter worth approximately $68,000. Institutional investors own 91.60% of the company’s stock.

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.