Globant (NYSE:GLOB) Given Neutral Rating at UBS Group

UBS Group restated their neutral rating on shares of Globant (NYSE:GLOB) in a research report released on Tuesday morning, MarketBeat.com reports. The firm currently has a $235.00 target price on the information technology services provider’s stock, up from their previous target price of $225.00.

Other research analysts have also recently issued reports about the company. Canaccord Genuity Group reduced their price target on Globant from $230.00 to $175.00 and set a hold rating for the company in a research report on Friday, May 17th. StockNews.com cut Globant from a hold rating to a sell rating in a research report on Tuesday, August 13th. Citigroup lifted their price target on Globant from $215.00 to $220.00 and gave the company a buy rating in a research report on Friday, July 12th. Needham & Company LLC boosted their price objective on Globant from $200.00 to $245.00 and gave the company a buy rating in a research report on Friday, August 16th. Finally, The Goldman Sachs Group assumed coverage on Globant in a research report on Monday, June 24th. They issued a buy rating and a $200.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $221.42.

Globant Stock Performance

NYSE:GLOB opened at $203.12 on Tuesday. The firm’s fifty day moving average is $186.20 and its two-hundred day moving average is $191.49. The firm has a market cap of $8.75 billion, a price-to-earnings ratio of 53.31, a PEG ratio of 1.98 and a beta of 1.41. Globant has a one year low of $151.68 and a one year high of $251.50.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS 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 analyst estimates of $586.72 million. Globant had a return on equity of 11.60% and a net margin of 7.62%. Globant’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period last year, the company earned $1.04 earnings per share. As a group, equities research analysts predict that Globant will post 5 earnings per share for the current fiscal year.

Institutional Trading of Globant

Several large investors have recently added to or reduced their stakes in the stock. Manning & Napier Advisors LLC acquired a new position in shares of Globant during the 2nd quarter valued at about $99,396,000. Norges Bank acquired a new stake in Globant during the fourth quarter worth about $114,922,000. Wasatch Advisors LP increased its position in Globant by 6.8% during the first quarter. Wasatch Advisors LP now owns 3,336,764 shares of the information technology services provider’s stock worth $673,693,000 after purchasing an additional 213,049 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Globant by 57.5% during the second quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock worth $78,851,000 after purchasing an additional 161,512 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in Globant by 65.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 405,124 shares of the information technology services provider’s stock worth $96,411,000 after purchasing an additional 160,616 shares during the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

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.