Susquehanna Issues Pessimistic Forecast for Globant (NYSE:GLOB) Stock Price

Globant (NYSE:GLOB) had its price target decreased by Susquehanna from $225.00 to $160.00 in a report published on Wednesday,Benzinga reports. Susquehanna currently has a positive rating on the information technology services provider’s stock.

Other equities research analysts have also issued reports about the company. StockNews.com lowered Globant from a “hold” rating to a “sell” rating in a research report on Monday, April 14th. Jefferies Financial Group lifted their price objective on Globant from $240.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Redburn Atlantic upgraded shares of Globant from a “sell” rating to a “neutral” rating and increased their target price for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. Scotiabank reduced their price target on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a report on Monday, February 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 price target on shares of Globant in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.88.

Globant Stock Up 7.0 %

GLOB stock opened at $112.26 on Wednesday. The firm’s fifty day simple moving average is $132.24 and its two-hundred day simple moving average is $188.14. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 30.18, a price-to-earnings-growth ratio of 2.38 and a beta of 1.50. Globant has a twelve month low of $96.23 and a twelve month high of $238.32.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The business had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. As a group, equities research analysts expect that Globant will post 5.73 EPS for the current year.

Institutional Investors Weigh In On Globant

A number of large investors have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in shares of Globant in the fourth quarter valued at about $16,737,000. Cullen Frost Bankers Inc. increased its holdings in Globant by 5.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider’s stock worth $11,350,000 after buying an additional 2,505 shares during the period. JPMorgan Chase & Co. raised its position in Globant by 8.6% during the 4th quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider’s stock worth $551,506,000 after buying an additional 203,472 shares during the last quarter. NS Partners Ltd acquired a new stake in Globant during the 4th quarter valued at approximately $18,933,000. Finally, Segall Bryant & Hamill LLC boosted its holdings in shares of Globant by 364.7% in the 4th quarter. Segall Bryant & Hamill LLC now owns 118,065 shares of the information technology services provider’s stock valued at $25,315,000 after acquiring an additional 92,661 shares during the last quarter. 91.60% of the stock is 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.