Globant (NYSE:GLOB) Trading Down 2.9%

Globant S.A. (NYSE:GLOB) fell 2.9% during mid-day trading on Tuesday . The stock traded as low as $191.38 and last traded at $191.38. 55,119 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 486,975 shares. The stock had previously closed at $197.08.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Scotiabank boosted their price objective on Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 21st. Piper Sandler reiterated an “overweight” rating and set a $240.00 price target (up previously from $238.00) on shares of Globant in a research note on Friday, August 16th. Jefferies Financial Group upped their target price on shares of Globant from $235.00 to $240.00 and gave the company a “buy” rating in a report on Monday, September 9th. KeyCorp raised their price target on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Finally, Canaccord Genuity Group upped their price objective on Globant from $175.00 to $205.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $222.90.

Globant Trading Down 2.4 %

The firm has a 50 day moving average of $194.83 and a two-hundred day moving average of $187.47. The stock has a market capitalization of $8.29 billion, a PE ratio of 51.71, a P/E/G ratio of 2.49 and a beta of 1.40.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. The business had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. The business’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.04 EPS. Equities research analysts forecast that Globant S.A. will post 5.01 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GLOB. Private Advisor Group LLC acquired a new position in Globant in the 4th quarter valued at $306,000. Charles Schwab Investment Management Inc. increased its position in Globant by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,970 shares of the information technology services provider’s stock worth $9,988,000 after purchasing an additional 2,470 shares during the last quarter. Principal Securities Inc. acquired a new position in Globant during the fourth quarter worth approximately $56,000. Dimensional Fund Advisors LP raised its stake in Globant by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 273,687 shares of the information technology services provider’s stock worth $65,135,000 after purchasing an additional 7,226 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Globant by 5.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,800 shares of the information technology services provider’s stock valued at $428,000 after purchasing an additional 100 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

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.