Globant (NYSE:GLOB) Price Target Increased to $251.00 by Analysts at Citigroup

by · The Cerbat Gem

Globant (NYSE:GLOB – Get Free Report) had its price objective boosted by Citigroup from $240.00 to $251.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the information technology services provider’s stock. Citigroup’s price objective would indicate a potential upside of 14.71% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC lifted their price target 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. Piper Sandler reiterated an “overweight” rating and issued a $240.00 price target (up previously from $238.00) on shares of Globant in a research note on Friday, August 16th. StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on Globant from $226.00 to $237.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, KeyCorp upped their price target on shares of Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Globant presently has an average rating of “Moderate Buy” and a consensus target price of $225.63.

Check Out Our Latest Stock Analysis on GLOB

Globant Stock Up 0.4 %

Shares of Globant stock traded up $0.77 during trading on Monday, reaching $218.81. 255,438 shares of the stock were exchanged, compared to its average volume of 482,115. The firm has a market cap of $9.43 billion, a price-to-earnings ratio of 57.43, a price-to-earnings-growth ratio of 2.70 and a beta of 1.39. Globant has a 1 year low of $151.68 and a 1 year high of $251.50. The stock’s fifty day moving average is $202.75 and its 200 day moving average is $187.20.

Globant (NYSE:GLOB – Get Free Report) last posted its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.04 earnings per share. Equities analysts forecast that Globant will post 5.02 earnings per share for the current year.

Institutional Trading of Globant

Institutional investors and hedge funds have recently bought and sold shares of the stock. Manning & Napier Advisors LLC purchased a new stake in shares of Globant in the 2nd quarter valued at approximately $99,396,000. Sei Investments Co. raised its position in Globant by 43.4% in the second quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock valued at $91,432,000 after purchasing an additional 155,112 shares during the period. Dimensional Fund Advisors LP lifted its stake 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 in the last quarter. Clearbridge Investments LLC boosted its position in shares of Globant by 28.4% during the second quarter. Clearbridge Investments LLC now owns 339,790 shares of the information technology services provider’s stock worth $60,571,000 after buying an additional 75,192 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Globant by 89.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 266,184 shares of the information technology services provider’s stock valued at $47,450,000 after buying an additional 126,030 shares during the period. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

About Globant

(Get Free Report)

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.

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