Needham & Company LLC reaffirmed their buy rating on shares of Globant (NYSE:GLOB – Free Report) in a research note issued to investors on Friday morning, Benzinga reports. They currently have a $205.00 target price on the information technology services provider’s stock.
A number of other analysts also recently weighed in on the stock. HSBC boosted their target price on shares of Globant from $235.00 to $240.00 in a report on Monday, July 17th. Piper Sandler upped their price objective on Globant from $207.00 to $209.00 and gave the company an overweight rating in a research report on Friday. KeyCorp lifted their price objective on shares of Globant from $201.00 to $230.00 and gave the stock an overweight rating in a research note on Friday, July 21st. StockNews.com downgraded shares of Globant from a hold rating to a sell rating in a research note on Wednesday, August 16th. Finally, Jefferies Financial Group raised their target price on shares of Globant from $198.00 to $227.00 in a report on Tuesday, June 20th. One analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $215.08.
Read Our Latest Analysis on GLOB
Globant Price Performance
Globant (NYSE:GLOB – Get Free Report) last announced its quarterly earnings results on Thursday, May 18th. The information technology services provider reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.02). The business had revenue of $472.42 million during the quarter, compared to the consensus estimate of $472.14 million. Globant had a return on equity of 11.40% and a net margin of 7.74%. As a group, analysts anticipate that Globant will post 4.68 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC lifted its holdings in shares of Globant by 5.2% in the 1st quarter. Private Advisor Group LLC now owns 1,283 shares of the information technology services provider’s stock worth $336,000 after buying an additional 63 shares during the period. PNC Financial Services Group Inc. lifted its stake in Globant by 29.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,476 shares of the information technology services provider’s stock worth $910,000 after acquiring an additional 792 shares during the period. Vanguard Group Inc. grew its holdings in Globant by 86.9% during the 1st quarter. Vanguard Group Inc. now owns 141,141 shares of the information technology services provider’s stock worth $36,988,000 after acquiring an additional 65,635 shares in the last quarter. Loomis Sayles & Co. L P increased its position in Globant by 22.2% during the 1st quarter. Loomis Sayles & Co. L P now owns 468 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 85 shares during the period. Finally, Zions Bancorporation N.A. raised its holdings in shares of Globant by 36.6% in the 1st quarter. Zions Bancorporation N.A. now owns 2,718 shares of the information technology services provider’s stock valued at $712,000 after purchasing an additional 728 shares in the last quarter. Institutional investors own 91.91% of the company’s stock.
About Globant
Globant SA operates as a technology services company worldwide. The company offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.
Featured Stories
- Five stocks we like better than Globant
- High Dividend REITs: Are They an Ideal Way to Diversify?
- Farming Boom Fears Create a Buying Opportunity in Deere & Company
- How to Invest in Hotel Stocks
- MarketBeat Week in Review – 8/14 – 8/18
- Most Active Stocks: Dollar Volume vs Share Volume
- 8 Best Artificial Intelligence Stocks Under $10
Receive News & Ratings for Globant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globant and related companies with MarketBeat.com's FREE daily email newsletter.
