JPMorgan Chase & Co. Increases Globant (NYSE:GLOB) Price Target to $237.00

Globant (NYSE:GLOB) had its price objective lifted by investment analysts at JPMorgan Chase & Co. from $226.00 to $237.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 20.83% from the company’s previous close.

A number of other equities analysts have also commented on GLOB. Piper Sandler reaffirmed an “overweight” rating and set a $240.00 target price (up from $238.00) on shares of Globant in a research report on Friday, August 16th. UBS Group reaffirmed a “neutral” rating and set a $235.00 target price (up from $225.00) on shares of Globant in a research report on Tuesday, August 20th. Mizuho reduced their target price on shares of Globant from $279.00 to $252.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Redburn Atlantic started coverage on shares of Globant in a research report on Friday, May 24th. They set a “sell” rating and a $135.00 target price on the stock. Finally, StockNews.com lowered shares of Globant from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Globant presently has an average rating of “Hold” and a consensus price target of $222.00.

Globant Stock Down 1.6 %

Globant stock traded down $3.27 during midday trading on Friday, reaching $196.14. The stock had a trading volume of 154,915 shares, compared to its average volume of 494,824. Globant has a 52-week low of $151.68 and a 52-week high of $251.50. The firm has a market cap of $8.45 billion, a price-to-earnings ratio of 51.48, a price-to-earnings-growth ratio of 2.51 and a beta of 1.41. The company has a fifty day moving average of $191.97 and a 200 day moving average of $189.28.

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

Institutional Investors Weigh In On Globant

Several institutional investors have recently bought and sold shares of the company. Accent Capital Management LLC acquired a new stake in shares of Globant during the fourth quarter worth $29,000. Quarry LP lifted its stake in shares of Globant by 529.6% during the second quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after buying an additional 143 shares during the period. Ridgewood Investments LLC acquired a new stake in shares of Globant during the second quarter worth $31,000. BOKF NA lifted its stake in shares of 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 during the period. Finally, RiverPark Advisors LLC acquired a new stake in shares of Globant during the first quarter worth $54,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

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.